Drop in Bread and Potatoes
Prices Keeps Inflation Down
A drop in the price of bread, onions and potatoes helped keep the
inflation rate down for the first two months of the year. According
to the Instituto Nacional de Estadística y Censos (INEC), the
accumulated inflation rate for January and February 2009 was 0.82%.
The INEC says the cost of living increased 0.44% in February, fueled
by higher costs in electrical rates, food, clothing, shoes, health
and domestic services.
The INEC says that in fact the accumulated inflation for the first
trimester is the lowest in the last six years, compared to the same
period.
In 2008 the inflation was 1.85%, in 2007 1.31%, in 2006 2.07%, in
2205 it climbed to 3.08% and in 2004 it was 3.02%.
The goal of the Banco Central de Costa Rica (Central Bank) is to end
the year with an inflation rate of between 8% and 10%.
The INEC keeps track of the cost of the basic food basket that
contains 292 items, of which in February, 65% have increased in
prices, 28% has shown a reduction and 7% has maintained no varation,
over the month of January. |
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