Inflation in Costa Rica
Costa Rica - Inflation
Inflation drops to lowest level since May in October
Inflation fell to 9.0% in October, following September’s 10.4%. October's figure marked the lowest inflation rate since May. The reading was largely due lower price pressures for transport, housing and clothing.
Annual average inflation rose to 7.5% in October (September: 7.0%).
Finally, consumer prices fell 0.76% from the previous month in October, a more moderate decrease than the 0.95% fall logged in September.
On the outlook for inflation, EIU analysts commented:
“Our central scenario assumes that prices will continue to drift down towards the BCCR's target band for several more months. However, the pace of this trend will depend on developments in global food and fuel markets, over which the government has little control.”
Our panelists project inflation to end 2023 at 4.9%, which is up 0.2 percentage points from last month’s forecast, and 2024 at 3.9%.
Costa Rica - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.8||0.0||1.6||2.2||2.1|
5 years of economic forecasts for more than 30 economic indicators.
Costa Rica Inflation Chart
Source: Costa Rica Central Bank and FocusEconomics calculations.
Costa Rica Facts
|Exchange Rate||571.0||-0.57 %||Jan 01|
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November 11, 2022
Economic activity grew 1.7% in September (August: +4.4%).
November 7, 2022
Inflation fell to 9.0% in October, following September’s 10.4%.
October 31, 2022
Preliminary data shows that GDP growth lost momentum in Q3, falling to 2.4% year on year from 6.1% in the second quarter.
October 26, 2022
At its 26 October meeting, the Central Bank of Costa Rica (BCCR) raised rates by 50 basis points, bringing the policy rate to 9.00%.
October 7, 2022
Inflation came in at 10.4% in September, down from August’s 12.1%.