Inflation perks up after slumber

January 29, 2010

Prices on a range of goods and services, from beverages to taxi rides, rose enough last month to bump inflation up 1.63 percent, Costa Rica´s highest monthly price increase since August 2008, according to a report released Tuesday by the National Statistics and Census Institute (INEC).

Driving the push last month were rent on homes and medical, transportation and education costs, INEC said. Transportation prices went up 3.52 percent in January, reaching a nearly 12 percent annual increase.

Last year saw price increases slump, and in some cases decline, leading to an overall inflation rate for 2009 of 4.05 percent. That rate was the lowest since at least 1977, when the country began keeping count, according to Aldesa, a San José financial consulting firm. The low inflation rate was the result of the global economic and financial crisis, which dragged down the cost of raw materials and, consequently, the price of many everyday goods and services.

Aldesa´s market report contends that greater dynamism in the local economy will cause the inflation rate to continue to rise. January´s Consumer Price Index put Costa Rica about a third of the way up to the Central Bank´s projection of 5 percent inflation for 2010.

Despite the downturn in 2009, Costa Rica has among the highest rates of inflation in the region.

Facebook Comments

You may be interested

Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)
Pic of the Day
38 views
Pic of the Day
38 views

Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)

Alejandro Zúñiga - April 18, 2019

Isla Nublar, the setting for much of the "Jurassic Park" series, is unfortunately not a real Costa Rican island. Cocos…

Costa Rica holds Maduro regime responsible for diplomat’s safety
Costa Rica
7 views
Costa Rica
7 views

Costa Rica holds Maduro regime responsible for diplomat’s safety

AFP and The Tico Times - April 18, 2019

The Costa Rican Foreign Ministry said on Wednesday that it places responsibility with the Venezuelan government of Nicolás Maduro for…

Venezuela withdraws diplomatic credential from Costa Rican diplomat
Latin America
23 views
Latin America
23 views

Venezuela withdraws diplomatic credential from Costa Rican diplomat

AFP and The Tico Times - April 17, 2019

Venezuela withdrew the diplomatic credential from the Costa Rican chargé d'affaires on Tuesday in retaliation for the country’s acceptance of…

Do NOT follow this link or you will be banned from the site!