March Inflation Registers at 0.46%

FUELED by higher housing and transportation costs, Costa Rica registered a monthly inflation of 0.46% in March.

Inflation for the first three months of this year was 3.49%, the National Statistics and Census Institute (INEC) reported on Monday.

Inflation for the first three months of 2003 was 2.12%. Inflation over the last 12 months was reported at 11.34%.

March’s inflation numbers mark an important decrease in the inflation rate, which between October 2003 and February of this year had been growing at more than 1% each month.

Despite the drop, it appears difficult for the Central Bank to meet its target inflation of less than 9% in 2004 (TT, March 26). Annual inflation in 2003 was 9.87%.