Costa Rica’s 2008 inflation hits 13.9 percent

December 24, 2008

Costa Rica ended 2008 with an inflation rate of 13.9 percent, significantly more than 2007´s 10.81 percent inflation, the National Statistics and Census Institute (INEC) reports.

Bucking an almost yearlong trend, however, December´s price index dipped 0.42 percent below November´s, owing to several drops in fuel costs.

All told, food and non-alcoholic beverages were the main drivers behind 2008´s inflation, registering prices 22.8 percent over those registered in 2007.

Inflation for the year settled just a hair below the Central Bank´s prediction in August that inflation would reach 14 percent.

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