Costa Rica Coffee Guide

Cost of Living Continues Upward Pace

April 18, 2008

The consumer price index is up for the first quarter of the year by 2.25%, according to the National Statistics and Census Institute (INEC).

Food prices continued to soar. In March, the canasta básica, an index compiled from the average prices of 10 staple foods that are part of the consumer price index, rose 23.9% over March 2007.

The canasta básica per person per month last month was 26,974 colones (about $55). This continues the trend that the country has been seeing since at least 2004, when INEC began tracking the index (TT, Dec. 21).

The Spanish-language daily Al Día recently published a survey analyzing the average income needed by a family of four to meet basic living expenses. The newspaper calculated that to cover utilities, transport, food and mortgage payments, a family would need to bring in a minimum income of 447,788 colones (about $911).

But the average Costa Rican income is 259,722 colones ($529).

International price increases in commodities such as wheat, soy and rice, coupled with the surging price of oil, are factors that will continue to squeeze those struggling to live on average wages.

 

You may be interested

Costa Rica approves law punishing street sexual harassment with jail and fines
Costa Rica
5803 views
Costa Rica
5803 views

Costa Rica approves law punishing street sexual harassment with jail and fines

AFP and The Tico Times - July 14, 2020

Costa Rica's Legislative Assembly on Tuesday passed a law that criminalizes street sexual harassment and punishes it with prison terms…

Costa Rica coronavirus updates for July 14, 2020
Costa Rica
21356 views
Costa Rica
21356 views

Costa Rica coronavirus updates for July 14, 2020

Alejandro Zúñiga - July 14, 2020

Costa Rica confirmed 446 new cases of the coronavirus over the past day, totaling 8,482 cumulative known cases, the Health…

Panama hospitals on verge of collapse as virus cases surge
Latin America
1219 views
Latin America
1219 views

Panama hospitals on verge of collapse as virus cases surge

Juan José Rodríguez / AFP - July 14, 2020

Hospitals in Panama are on the brink of collapse as coronavirus cases spike in the Central American country worst hit…