Inflation Soared To
16.30% Last Month
The inflation rate in
between November 2007
and October 2008 reached
16.30% according to a
report released Tuesday
by the Instituto
Nacional de Estadística
y Censo (INEC) -
national statistics and
census institution,
while consumer prices
rose 1.04% during the
month.
According to the INEC,
the factors contributing
to the rise are prices
of water, taxi, cost of
potatoes and tomatoes
and other basic food
items.
The report indicates
that basic food products
and non-alcoholic
beverages increased
sharply and contributing
to a rise in the General
del Índice de Precios al
Consumidor de Costa
Rica(IPC) - Consumer
Price Index - which
takes into account 292
items.
The Banco Central de
Costa Rica (BCCR) -
Central Bank - is
predicting an overall
inflation rate of 14%
for the year and with
less than two months
left that prediction may
not be met.
Items like a rise in
rents and utilities also
contributed in the rise
in the cost of living,
as rents for housing
have actually increased
over the past couple of
months as demand for
rental housing has
increased.
Of the 292 products and
services that make up
the "Canasta Basica"
(Basic Basket), prices
increased on 72% of the
items, while 18% items
dropped in prices and
10% had no change,
according to the INEC
report. |
