Costa Rica: Inflation slows in December

Consumer prices rose 0.21% in December compared to the previous month, down from 0.42% in November. According to the National Institute of Statistics and Census (INEC), October’s price rise came primarily on the back of more expensive tourism packages and televisions. Weighing on prices, however, were markedly lower prices for gasoline.

Inflation was lower at 2.0% in October, down from 2.3% in November, and just touching the lower bound of the Central Bank’s 2.0%–4.0% target range. Annual average inflation ticked down to 2.2% in December from 2.3% in November.

Costa Rica Inflation Forecast

FocusEconomics Consensus Forecast panelists expect inflation to end this year at 3.3%, which is unchanged from last month's forecast. In 2019, the panel sees inflation ending the year at 3.4%, which is down 0.1 percentage points from last month’s forecast.