Inflation in Costa Rica
Consumer price inflation averaged 2.7% in the ten years to 2022 in Costa Rica, below the Central America and Caribbean average of 3.4%. The 2022 average figure was 8.3%. For more inflation information, visit our dedicated page.
Costa Rica Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Costa Rica from 2013 to 2022.
Source: Central Bank of Costa Rica.
Costa Rica Inflation Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.2 | 2.1 | 0.7 | 1.7 | 8.3 |
| Inflation (CPI, ann. var. %, eop) | 2.0 | 1.5 | 0.9 | 3.3 | 7.9 |
| Inflation (PPI, ann. var. %, eop) | 4.3 | -0.3 | 2.7 | 13.9 | 8.1 |
Consumer prices continue to fall in October
Consumer prices declined 1.3% on an annual basis in October, following September’s 2.2% year-on-year decrease. Looking at the details of the release, housing prices rose at a quicker pace in October compared to the previous month, while price for transportation fell at a softer rate. The trend pointed down, with annual average inflation coming in at 2.1% in October (September: 2.9%). Lastly, consumer prices rose 0.21% in October over the previous month, accelerating from September's 0.11% rise. October's figure was the sharpest increase in prices since August 2022.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Costa Rican inflation projections for the next ten years from a panel of 16 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Costa Rican inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Costa Rican inflation projections.
Want to get access to the full dataset of Costa Rican inflation forecasts? Send an email to info@focus-economics.com.