Costa Rica: Inflation stable at two-year high in April but remains below target
May 8, 2017
Consumer prices rebounded in April and rose 0.15% month-on-month, contrasting March’s 0.42% decline. According to the National Institute of Statistics and Census (INEC), the figure was driven by a rise in prices for transport, rental and housing services. Meanwhile, food and non-alcoholic beverage prices fell in the same month.
Inflation was broadly stable from a month earlier at 1.6% in April and marked the strongest reading in two years. Regardless, inflation remains below the BCCR’s 2.0%–4.0% target range. Meanwhile, annual average inflation climbed to 0.6% in April, following March’s 0.4%, and marked the highest annual average figure in more than a year.
Author: Christopher Thomas, Economist