Costa Rica inflation reaches 1.31 percent in January

Inflation for the first month of 2013 in Costa Rica registered 1.31 percent, which represents a significant increase compared with 0.17 percent in the same month last year, according to the National Statistics and Census Institute (INEC).

INEC said in a press release that of the 292 goods and services included in the monthly study, 57 percent had price increases, 33 percent decreased and the rest remained unchanged.

Price increases for goods and services that most influenced January inflation were electricity rates, bus fares, higher education, tourism and food.

Inter-annual inflation, which measures inflation accumulated during the last 12 months, stood at 5.74 percent, the highest in the past four years.

Costa Rica ended 2012 with an inflation rate of 4.55 percent, the second-lowest figure in the last decade, behind cumulative 4.05 percent in 2009.

The Central Bank of Costa Rica set the inflation goal for 2013 between 4 and 6 percent.