No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveInflation Surges in June; Travel, Food Lead the Pack

Inflation Surges in June; Travel, Food Lead the Pack

The cost of living in Costa Rica keeps getting higher, as the consumer price index for June saw the second highest spike this year, registering at 1.4 percent, according to the National Statistics and Census Institute (INEC).

So far this year, consumers have seen 6.55 percent inflation in basic goods and services, easily threatening to surpass the Central Bank’s goal of 8 percent for 2008.

Inflation for the past 12 months has now reached 12.82 percent.

That year-to-year rate for June is the second highest in 10 years. The highest was in June 2005 at 13.76 percent.

The consumer price index measures the average variation in price of a group of most commonly used goods and services. In June, 73 percent of the items in this basic basket increased, while 18 percent decreased.

Prices for transportation, and food and non-alcoholic beverages spiked the most last month at 2.98 percent and 2.09 percent, respectively. INEC pointed to rising gas and plane ticket prices for high transportation costs, while increases in the price of tomatoes and cilantro caused higher food bills.

The only sector in which prices dropped, by 0.07 percent, was rent and utilities.

Costa Rican consumers have been hit hard on the road and in the markets during the past 12 months. INEC reported that food and beverage prices increased 23.61 percent, eating in restaurants 16.59 percent and transportation 11.89 percent from June 2007 to the same period this year.

 

Trending Now

Costa Rica’s Strong Colon Is Forcing Central Bank Action

The Banco Central de Costa Rica (BCCR) has ramped up its foreign exchange purchases this year to counter the colón's ongoing appreciation against the...

US Authorizes Oil and Gas Sales to Cuba Under Strict Conditions

The United States is authorizing the sale of oil and gas to Cuba, provided companies ensure the fuel will go to citizens and businesses...

El Salvador mural reimagines the Mona Lisa with recycled plastic caps

Made of plastic caps in many colors and sizes, Leonardo da Vinci’s famous Mona Lisa has a Latin American version: a 13-meter-tall mural erected...

OIJ Reports Shift in Costa Rica Car Thefts Toward Newer Vehicles

For years, concerns centered on the theft of older vehicles for resale as spare parts. Criminal groups now target newer models more often. They...

Road expansion slows traffic and extends travel times to Guanacaste

Drivers traveling Route 1 from Barranca toward Limonal and Guanacaste now spend more time on the road because of current construction going on. Heavy...

Costa Rica Finishes Work on Extradition of Celso Gamboa and Pecho de Rata

Costa Rican courts finished every domestic requirement for the extradition of Celso Gamboa Sánchez and Edwin Danney López Vega, known as Pecho de Rata....
Avatar
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Travel

Latest News from Costa Rica