Monday, July 27th, 2015 | USD: Buy 528.29 / Sell 540.71
Between just January and February, the cost of living rose 2.34%, while the Central Bank’s target was 5% for the entire year.
This is the fastest pace in the increase of cost of living seen in the country in 8 years. Milton Castillo from the National Institue of Statistics and Census (INEC) said the increases in fuel, food, and education are playing the most significant roles.
In February alone, 6 out of 10 items in the “food basket,” which the government uses as representative grocery items for a family, rose in price.