No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveCosta Rican Central Bank ups 2008 inflation goal to 14 percent

Costa Rican Central Bank ups 2008 inflation goal to 14 percent

Pointing to “external shocks” and an increase in the colón-dollar exchange rate, the Central Bank revised its projections for year-end inflation, moving its target from 8 percent to 14 percent.

The rising price of imported goods, such as basic grains and petroleum, was directly linked to spiking prices in the first half of 2008, according to the Central Bank.

While exports grew by 6.5 percent in the first half of 2008 compared to 2007, they could not keep pace with a 28.3 percent increase in imports over the same period.

Accrued inflation is already at 6.55 percent for the year, and year-to-year inflation reached 12.82 percent at the end of June.

Despite its 14 percent projection for this year, the Central Bank is shooting to achieve 9 percent inflation for 2009.

Trending Now

El Salvador Slams Paris Fashion Show Inspired by Cecot Mega-Prison Inmates

The president of El Salvador, Nayib Bukele, joked on Saturday that he could send inmates from his mega-prison to France, after they were represented...

Costa Rican Court Orders Release of Migrants Deported Under Trump Deal

A court on Tuesday ordered Costa Rican authorities to release foreign migrants who had been detained in a shelter after being deported under an...

Guatemala Offers Asylum to Nicaraguan Migrants Deported by U.S.

Guatemalan President Bernardo Arévalo announced on Friday that his country will grant asylum to Nicaraguan migrants deported by the United States who do not...

An Expat’s Take: 5 Burning Questions About Life in Costa Rica Right Now

Have you been keeping up with the various events taking place in Costa Rica? There is always something interesting going down, and here are...

Costa Rica Joins U.S. Global Entry, Easing Travel for Tourists

Costa Rica took a big step forward, by officially joining the U.S. Global Entry program, a move set to make travel smoother for Costa...

Prisma Dental in Costa Rica Keeps Customers Happy and Smiling

I am 81 years old and have had teeth removed, bridges, and cavities fixed several times to sustain my ability to eat and function....
Avatar
spot_img
Costa Rica Tours
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica