Costa Rica Inflation May 2017

Costa Rica

Costa Rica: Inflation inches up to over two-year high in May but remains below target

June 7, 2017

Consumer prices rose 0.22% in May, climbing away from April’s 0.15% increase. According to the National Institute of Statistics and Census (INEC), the figure was driven by a rise in transport prices, which more than offset a fall in prices for entertainment and culture. Food and non-alcoholic beverage prices, the most heavily weighted grouping in the index, fell slightly.

Inflation inched up to 1.7% in May (April: 1.6%) and marked the strongest reading in more than two years. Regardless, inflation remains below the BCCR’s 2.0%–4.0% target range. Meanwhile, annual average inflation climbed to 0.8% in May, following April’s 0.6%, and marked the highest annual average figure in more than a year.

FocusEconomics Consensus Forecast panelists expect inflation to end 2017 at 3.0%, which is up 0.1 percentage points from last month's forecast. In 2018, the panel sees year-end inflation rising to 3.6%.

Author:, Economist

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Costa Rica Inflation Chart

Costa Rica Inflation May 2017 0

Note: Annual and monthly variation of consumer price index in %.
Source: National Institute of Statistics and Census (INEC).

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