Costa Rica: Inflation inches up in June
July 7, 2017
Consumer prices rose 0.08% in June, coming in below May’s 0.22% increase. According to the National Institute of Statistics and Census (INEC), the deceleration was driven by a sharp fall in transport prices from a month earlier and was offset by a rise in food and non-alcoholic beverage prices. Other categories in the index generally increased, although more moderately.
Inflation inched up to 1.8% in June (May: 1.7%) and marked the strongest reading in more than two years. Regardless, inflation remains below the Central Bank’s 2.0%–4.0% target range. Meanwhile, annual average inflation climbed to 1.0% in June, following May’s 0.8%, and marked the highest annual average figure in more than a year.
Author: Christopher Thomas, Economist