Costa Rica: Inflation accelerates to five-month high
November 2, 2012
In October, consumer prices added 0.45% over the previous month, which was well above the 0.07% increase recorded in September. The monthly increase came on the back of higher prices for housing and utilities as well as for transport. Annual inflation rose from 4.5% in September to 4.7 % in October, the highest level in five months. Meanwhile, the core inflation index, which strips out short-term fluctuations in the consumer price index, added 0.19% in October, which was above the 0.02% increase observed in September. Annual core inflation, however, fell from 3.6% in September to 3.2%. According to the latest revision to the Macroeconomic Programme 2012-2013, the Central Bank intends to maintain an inflation target of 5.0% (with a tolerance margin of plus/minus 1.0 percentage points) for both 2012 and 2013.