Costa Rica: Inflation rebounds in December, remains below target range
January 3, 2014
Consumer prices increased 0.51% over the previous month in December, which was up from the 0.17% rise tallied in November. The monthly increase in consumer prices reflected higher prices for communications and for leisure and culture.
Annual headline inflation edged up from 3.4% in November to 3.7% in December. Despite the increase, inflation remains slightly below the lower band of the Central Bank's tolerance margin of plus/minus 1.0 percentage points around its 5.0% target. Annual average inflation inched down from November's 5.3% to 5.2%.
The core inflation index, which strips out short-term fluctuations in the consumer price index, rose 0.11% over the previous month in December (November: +0.07% month-on-month). Annual core inflation eased to 2.2% in December, which was slightly down from November's 2.4%.
FocusEconomics panelists see inflation ending 2014 at 5.1%, which is down 0.1 percentage points from last month's forecast. The panel sees 2015 year-end inflation at 5.0%.