Cost Of Living Up
According to the
Instituto Nacional de
Estadística y Censos (INEC)
- national statistics
and census institute -
the cost of living in
Costa Rica increased by
0.7% during the month of
August.
The increase is included
in the Índice de Precios
al Consumidor (IPC) -
consumer pricing index -
which in real terms
means that the cost of
living increased by ¢70
colones on purchases of
the same items costing
¢10.000 colones the
month earlier.
The accumulated
inflation for this year
(January to August) is
pegged at 6.36%, an
amount lower than the
same period last year,
when it was 7.22%.
According to figures
given out by the INEC,
during the month August,
the cost of gasoline,
eggs, mild, electricity
and "los casados"
(sandwiches) were
responsbile for the
increased cost of
living.
In the case of mil, Dos
Pinos, the largest milk
co-operative, increase
the cost of a litre of
milk by ¢20 colones.
In contrast, tomatoes,
potatoes and green
peppers all dropped in
price as well as tourism
sector services like
hotels.
The Canasta Básica
(basic food basket) is
made up of 292 products
and services, of which
210 increase in price
during the month of
August over July, while
58 dropped and 24
remained the same.
Meanwhile, the inflation
for the period between
September 2006 and
August 2007 was 8.56%
which is one of the
lowest rates of
inflation during the
last decade.
The government, by way
of the Banco Central de
Costa Rica (Central
Bank) has projected the
inflation rate for 2007
at 8% and is expected to
stay the same for 2008. |
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