Costa Rica: Inflation quickens slightly in March
April 3, 2012
In March, consumer prices rose 0.40% over the previous month, which was above the 0.28% price increase registered in February. The monthly increase reflected higher prices for transport as well as for housing, which were only partially offset by lower prices for alcoholic beverages and tobacco. As a result of the monthly increase, annual inflation inched up from 4.1% in February to 4.2%. Meanwhile, the core inflation index, which smoothens short-term fluctuations in the consumer price index, added 0.16% in March, below the 0.44% increase seen in February. Annual core inflation fell to 4.1% in March from 4.6% in February. According to its Macroeconomic Programme 2012-2013, the Central Bank intends to maintain an inflation target of 5.0% (with a tolerance margin of 1.0 percentage points) for both 2012 and 2013.