Costa Rica Inflation August 2022

Costa Rica

Costa Rica: Inflation rises in August

September 7, 2022

Consumer prices increased 0.86% in August over the previous month, down from July's 1.09% rise. August’s result marked the weakest reading since January. Looking at the details of the release, prices for food and non-alcoholic beverages grew at a slower pace while price pressures for transportation rebounded.

Inflation came in at 12.1% in August, up from July’s 11.5%. August's figure represented the highest inflation rate since March 2009. Meanwhile, the trend pointed up, with annual average inflation coming in at 6.3% in August (July: 5.4%).

Our panelists project inflation to end 2022 at 9.5%, which is up 2.1 percentage points from last month’s forecast, and 2023 at 4.7%.


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Costa Rica Inflation August 2022

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


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