Inflation in Costa Rica closed in 2019 at 1.52%, below the official target

Inflation in Costa Rica reached 1.52% in 2019, below the 3% target set by the Central Bank, the official statistical agency said Wednesday.

According to the National Institute of Statistics and Census (INEC), the consumer price index had a negative variation of -0.12% in December.

This is the fifth consecutive year that the inflation index closes below the 3% target that the Central Bank has maintained in recent years.

The negative variation in December prices was mainly due to decreases in food and non-alcoholic beverages, communications and transportation (-0.55%).

The strongest increases in the last month of 2019 were in restaurant and accommodation services (0.74%) and clothing and footwear (0.58%).