Costa Rica With Highest Reduction In
Inflation Rate In The Region
The accumulate inflation rate for 2009 was
4.05%, the lowest in the last 37 years,
according to the Instituto Nacional de
Estadística y Censos (INEC).
The rate is also 9.85 points below the
inflation rate of 13.9% for 2008 and was
within the forecast range of 4% to 6% by the
Banco Central de Costa Rica (Central Bank).
According to the INEC, December was the
month in the year with the highest inflation
rate, a rate of 1.02%.
What the 4.05% means in real terms is that
Costa Ricans need an addition ˘4 per ˘100
colones at the end of the 2009 than at the
begining of the year. For example, an item
that cost ˘100 colones last January, costs
today ˘104 colones.
In Latin America, at least 18 countries saw
a reduction in the inflation rate, although
the final numbers are not all in.
According to the Consejo Monetario
Centroamericano, in addition to Costa Rica,
only Colombia (2%) and Uruguay (5.9%)
published their numbers.
Once all the countries publish their
numbers, Costa Rica is expected to have the
highest reduction in the inflation rate in
Central America.
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