Consumer prices in Costa Rica rising faster than last year

July 3rd, 2014 (InsideCostaRica.com) Costa Rica’s Consumer Price Index (CPI), which measures the overall rise in consumer prices, increased by 4.14% between January and June of this year, compared to an increase of 3.24% during the same period in 2013.

 

The National Institute of Statistics and Census (INEC) provided the data yesterday.

 

The increase in the CPI so far this year would seem to put the government’s goal of a total rise of 3% to 5% for the whole year at risk.

 

In June alone, the prices of goods and services increased 0.38%.  If current trends continue, the CPI could increase to a yearly total of 6.42% to 8.28% – if not more – by the end of the year.

 

Some of the largest increases in prices have been seen in alcoholic beverages and cigarettes (6.49%), rental housing (6.43%), transportation (6.76%), and education (6.34%).

 

Certain foods have also seen significant price increases, such as potatoes (13.95%), onions (12.54%), tomatoes (7.95%) and beef (2.91%).

 

Gasoline has also seen six price hikes so far this year, for a total increase of around ¢150 per liter.

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    • Ken Morris

      Well, the devaluation of the colon and inflation are related to some extent, so we we should have expected higher inflation after the spike in the value of the dollar this year. Unfortunately, now that the dollar is devaluing but the price increases have already been pushed through, I doubt that anyone will lower prices. We’ll just have to live with a little more inflation than was justified, I’m afraid, and all eyes need to be on the Central Bank to see whether this will all be managed a little better in the future.

    • Yeims

      It seems that many countries around the world are understating their inflation rates as they keep on printing more and more of their currencies.

    • expatin paradise

      It would be helpful to show that gasoline price increase as a percentage. I believe that gasoline is up by almost 20%, which puts it well above the other “highs” reported. Since the government controls the price of gasoline, it could help keep inflation down by freezing gasoline prices. Even if the government took a loss as the result, it would be a small price to pay to keep inflation within manageable limits. After all, employee wage increases are based in part on inflation rates, so keeping inflation down should save the government considerably in employee wages.

      • disgusted

        Your having a logic attack.. I agree however, the greed among the agency’s has no limit.

        • expatin paradise

          At roughly 18%, given that the dollar went up roughly 9% at its highest, gasoline has gone up 9% higher than the currency differential, more than any other price mentioned in the article. (which were also affected by the dollar rise, anyway). I don’t know if petrol products have increased by that amount globally, but it seems excessive, even with the uncertainty in the middle east.

          Apathy and an unwillingness to improve service in the public sector is typical among government employees here, Perhaps an award program to give monetary rewards to employees who make suggestions that save government funds would improve that apathy.

    • roberto

      Inefficient mediocrity.

    • Iddy Yutt

      Shuddupp. The game is tomorrow !!! Pura Vida !!!!!!!!!!!!!!!!!!!!!