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January 22nd, 2013 (InsideCostaRica.com) Costa Rica residents were hit with one of the highest increases in the cost of living in Latin America last year, with inflation in the country ending the year at 4.55%. What cost 100,000 colons in 2011 cost an additional 4,550 colons last year.
The rate of inflation in Costa Rica was the 8th highest in Latin America.
Venezuela saw the highest increase in its cost if living, with an astounding 20% rate of inflation last year, followed by Argentina at 10.8%, and Uruguay at 7.48%.
Nicaragua, Brazil, Panama and Honduras also had saw higher rates of inflation than Costa Rica.
Milton Castillo with the Statistics and Census Institute said that the largest price increases were seen in alcoholic beverages and cigarettes, while the cost of food saw both increases and decreases, depending upon the particular item.
Following Costa Rica were Bolivia, Ecuador, Paraguay, Mexico, Guatemala, Chile and Colombia.