Costa Rica Inflation April 2019

Costa Rica

Costa Rica: Inflation launches into the Central Bank's target range in April

May 8, 2019

Consumer prices rose 0.56% in April compared to the previous month, contrasting the 0.14% fall in March. According to the National Institute of Statistics and Census, April’s outturn came on the back of higher electricity and gasoline prices.

Inflation jumped to 2.1% in April from 1.4% in March, launching into the Central Bank’s 2.0%–4.0% target range. Annual average inflation remained unchanged from March’s 2.0% in April.

Inflation should pick up even further in the coming months, particularly given July’s switch to a value-added tax from a general sales tax and an expected acceleration in economic growth. FocusEconomics Consensus Forecast panelists expect inflation to end this year at 3.0%, which is down 0.1 percentage points from last month's forecast, and 3.1% in 2020.

Author:, Economist

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Costa Rica Inflation Chart

Costa Rica Inflation April 2019 0

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

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