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February Inflation Highest in Years
The government's action against
rising inflation doesn't seem to be working. Not last month in any case,
as the accumulated inflation rate for February closed at 3.08%.
Costa Ricans continue to the effects of high inflation, according to the
Instituto Nacional de Estadística y Censos (INEC) which pegs the
February inflation rate the highest in several years.
The inflation rate in February 2003 was 1.47%, while it rose to 3.02% in
February of 2004.
The high inflation rate is due to a number of rising consumer prices
like that of rice, beans, coffee and chayote. Gasoline prices are now
the highest record in Costa Rican history - ¢353 (us$0.75) colones for a
litre of regular and ¢370 colones (us$0.79) for a litre of super and
diesel is set at ¢264 colones (us$0.57) a litre. The consumer price in
local service stations was set on February 4 of this year, as published
in the official newspaper La Gaceta on February 3, 2005.
The gasoline prices at the pumps include a tax of ¢125.5970 (us$0.27)
colones per litre of super gasoline, ¢119.5990 colones (us$0.26) for
each litre of regular gasoline and ¢70.440 colones (us$0.15) per litre
of deisel.
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