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Inflation Up for 20 months;
Exports Grow at a Slow Pace
Starting in September 2003, the
increase of prices in Costa Rica
has accelerated and has not
stopped so far.
The National Statistics and
Census reported that last May
the cumulate inflation for the
last 12 months - June 2004-May
2005 - reached 14.46%.
This is the highest peak since
April 1997 and comes close to
duplicating the average for
September 2003, 8.36%.
Last month only, the Consumer
Price Index - which measures
inflation - showed a 1.37%
increase, taking the cumulate
figure for the first five months
in 2005 to 6.37%.
And sales abroad increased by
only 5.6% the 12 months that
ended last April, as compared to
the year that ended in April
2004.
The Central Bank emphasized that
the slow pace contrasts with the
one in the preceding term, when
it went up over 15%.
The Foreign Commerce Promoter (PROCOMER)
pointed out that the products
whose exports show the larger
increases are cassava,
pineapple, melon, sugar, coffee,
and fish filets. PROCOMER also
mentioned that the exports by
several firms operating in the
free zone areas dropped by
approximately 5% January through
April this year, affecting the
overall figures.
On the other hand, the first
four months in 2005, imports
increased by 9.3%, as compared
to the same period last year.
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