Costa Rica: Inflation inches up in April
May 4, 2011
In April, consumer prices rose 0.15% over the previous month, which was below the 0.25% price increase registered in March. According to the National Statistics Office (INEC, Instituto Nacional de Estadistica y Censos), higher prices for transport (+1.28% month-on-month) offset lower prices for food and non-alcoholic beverages (-0.74% mom). Annual inflation inched up from 4.6% in March to 4.7% in April, creeping closer to the Central Bank's 5.0% inflation target. Meanwhile, the core inflation index, which smoothes short-term fluctuations in the consumer price index, added 0.63% in April. As a result of the pronounced price increase in April, annual core inflation rose from 4.0% in March to 4.5%. According to the Revision of the Macroeconomic Program 2011-2012, the Central Bank maintains an inflation target of 5.0% for 2011, with a tolerance margin of 1 percentage points, and 4.0% for 2012.