Inflation in
Costa Rica The
Lowest Since 2002
Figures released by the Instituto Nacional
de Estadística y Censos (INEC) reveals that
the Costa Rican inflation rate for June was
0.17%, brining the year's (January to June)
accumulated inflation to 1.21%, much lower
than the 6.55% recorded during the first six
months of 2008.
Analyzing the figures, the inflation rate
for the last twelve months - July 2008 to
June 2009 - is 8.2%, the lowest "inter
annual" rate in the last seven years.
The last year when the cost of living in
Costa Rica was the lowest was in 2002, when
the inter-annual inflation rate was 8.05%.
The following years, the inter annual
inflation rate was 10.21% (2003), 11.89%
(2004), 13.76% (2005), 12.42% (2006), 8.75%
(2007) and 12,82% (2008).
Last month, the products and services that
saw increases in costs were electricity,
rice, take out foods, vehicles, cigarettes,
alcoholic drinks, transportation and
residential rents.
The products and services with reductions
were tomatoes, eggs, sweet peppers and
lemons.
The Canasta Basica (Basic Basket) is made up
of 292 products and services, of which 164
items saw price increases, while 88 saw
reductions and 40 remained the same.
The Banco Central de Costa Rica (BCCR) -
Central Bank - is predicting an annual
inflation rate of between 7% and 9% for
2009. |
