Costa Rica: Inflation at lowest level in over four years in January
February 3, 2014
Consumer prices increased 0.75% over the previous month in January, which was up from the 0.51% rise tallied in December. The monthly increase was broad-based, with price increases registered in meals eaten out, rent and house services, health, leisure and culture, as well as in education services.
Annual headline inflation edged down from 3.7% in December to 3.1% in January, which marked the lowest reading since November 2009. As a result, inflation remains below the lower band of the Central Bank's tolerance margin of plus/minus 1.0 percentage points around its 5.0% target. Annual average inflation edged down from December's 5.2% to 5.0% in January.
The core inflation index, which strips out short-term fluctuations in the consumer price index, rose 0.50% over the previous month in January (December: +0.11% month-on-month). Annual core inflation inched down from December's 2.2% to 2.1% in January.
FocusEconomics panelists see inflation ending 2014 at 5.1%, which is unchanged from last month's forecast. The panel sees 2015 year-end inflation at 5.0%.