October 26th, 2012 (InsideCostaRica.com) – According to the President of Costa Rica’s Central Bank, Rodrigo Bolanos, the increase in the cost of living as a result of inflation for 2012 will reach 5% by the end of the year.
Inflation had reached 2.96% by the end of September. Bolanos, however, believes that the rains and Christmas season will cause an increase in the indicator, as has been the typical in the last several years.
Bolanos said that the economy’s production levels will likely only have increased 4.8% by the end of the year, which is a clear slowdown in Costa Rica’s economy.
If the inflation rate does indeed close at 5% by the end of this year, the Central Bank would meet its inflation goal for 2012, which was set between 4 and 6 points.