Costa Rica closes 2022 with inflation at 7.88%, highest in 14 years

Costa Rica closed 2022 with the highest annual inflation in 14 years, 7.88%, according to the National Institute of Statistics and Census (INEC).

“The accumulated variation of the CPI in 2022 stands at 7.88%, being the highest annual variation recorded since 2008,” said INEC spokesman Nelson Castillo.

The month of December registered an inflation of 0.13% due to the increase in the prices of food products and non-alcoholic beverages, and recreation, sports and culture, said the INEC.

Among the prices that decreased were those of transportation services.

Of the 289 goods and services that make up the CPI, 52% increased in price, 34% decreased in price and 14% did not present any variation during the month of December.

Costa Rica closed 2021 with a 12-month inflation rate of 3.3%, according to INEC.