Costa Rica: Inflation is steady in September

Consumer prices rose 0.22% in September compared to the previous month, marking a contrast with the 0.07% fall logged in August. According to the National Institute of Statistics and Census (INEC), September’s increase came on the back of higher prices for furniture, household goods and domestic services, which more than outweighed cheaper clothing and footwear.

Inflation was unchanged at August’s 2.2% in September, remaining close to the lower bound of the Central Bank’s 2.0%–4.0% target range. Meanwhile, annual average inflation was also unchanged in September, at 2.3%.

Costa Rica Inflation Forecast

FocusEconomics Consensus Forecast panelists expect inflation to end this year at 2.8%, which is down 0.2 percentage points from last month's forecast. In 2019, the panel sees inflation ending the year at 3.0%, which is up 0.1 percentage points from last month’s forecast.