Central Bank Ups Inflation Outlook to 14%
Pointing to “external shocks” and an increase in the colón-dollar exchange rate, the Central Bank revised its projections for year-end inflation, moving its target from 8 percent to 14 percent.
The rising prices of imported goods, such as basic grains and petroleum, were directly linked to spiking prices in the first half of the year, according to the Central Bank.
While exports grew by 6.5 percent in the first half of 2008 compared to the same period last year, they could not keep pace with a 28.3 percent increase in imports.
You may be interested
Looking back at Hurricane Maria: the initial impactJohn McPhaul - December 12, 2017
As Costa Rica joins many other nations in looking back upon the devastating 2017 hurricane season, longtime Tico Times contributor…
Cold front claims fourth victim in Costa RicaKatherine Stanley - December 12, 2017
High winds claimed the life of a fourth victim in Costa Rica as the cold front that has been moving…
With Keylor Navas battling injuries, Real Madrid eyes January swoop for Bilbao goalieAFP - December 11, 2017
Real Madrid's first foray into the January transfer market will be to snap up Athletic Bilbao's promising goalkeeper Kepa Arrizabalaga,…