Costa Rica: Inflation ticks up in June
July 6, 2018
Consumer prices rose 0.18% in June compared to the previous month, contrasting May’s 0.11% decrease. According to the National Institute of Statistics and Census (INEC), June’s price increase came on the back of higher prices for communications and transport, which more than outweighed a notable decrease in the cost of clothing and footwear.
Inflation accelerated to to 2.1% in June from 2.0% in May and remained in the lower bound of the Central Bank’s 2.0%–4.0% target range. Meanwhile, annual average inflation was slightly higher in June, accelerating to 2.1% from 2.0% in May. This is the highest annual average inflation rate in over two years.
Costa Rica Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to end this year at 3.1%, which is unchanged from last month's forecast. In 2019, the panel sees inflation ending the year at 3.3%.
Author: Edward Gardner, Economist