January With Lowest Inflation
in Ten Years
The Instituto Nacional de Estadística y Censos (INEC) reports that
last month saw the lowest inflation rate in the last decade.
The INEC reports that the cost of goods and services increased only
0.38% in January. The inflatoin rate in January 2008 was almost
double at 0.76%.
INEC officials warn that, although the inflation rate was low last
month, the annual inflation between February 2008 and March 2009 is
expected to be 13.5%.
The items that contributed the most to the rise in the cost of
living last month were electricity, education, potatoes, dentistry
and domestic help.
On the other hand, items like gasoline and housing rent dropped.
The INEC adds that of the 292 items that make up the basic food
basket, 63% of the items increased in prices, while only 31% dropped
and the rest stayed the same.
In contrast to the INEC inflaction forecast, the Banco Central de
Costa Rica (BCCR) - Central Bank - is forecasting a 9% inflation
rate for 2009.
In 2009, the Central Bank forecast an 8% inflation rate at the
beginning of the year and revising upwards during the year. The
inflation rate for 2008 closed at 13.9%. |
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