San José, Costa Rica, since 1956

Inflation Reaches 5.62% So Far This Year

Inflation in Costa Rica registered 5.62% during the first seven months of this year, down from the 6.28% recorded during the same period last year, the National Statistics and Census Institute (INEC) reported in a statement Aug. 3.

During July, inflation increased 0.93%, and 66% of the goods and services that make up the basic food basket increased in price, while 26% decreased and the remaining 8% did not change. Products that increased the most in price included tomatoes, onions, cars and domestic service, while the price of airline tickets, tires and toys went down, the statement said.

During the first seven months of the year, foods, non-alcoholic beverages, transportation and home goods were among goods and services that increased the most in price.

Inflation from August 2006 to July 2007 totaled 8.75%, down from 12.03% registered the previous one-year period.

The Central Bank has set a goal of finishing out the year with 8% annual inflation or less.


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