Costa Rica sees deflation in November
Consumer prices in Costa Rica fell by 0.16 percent during the month of November, marking the second time in 2009 that the country has experienced deflation. For the year, the inflation rate was at 2.57 percent, the lowest annual consumer price increase since 1972. At this point in time last year, the rate of inflation stood at 16.30 percent.
The largest decrease in consumer prices was felt at the gas pump, as the cost of gasoline fell more than 0.11 percent for the month. The price of gasoline is traditionally the driving force for fluctuation in the inflation rate, as the high inflation rate of 2008 stemmed largely from the high price of fuel. The overall cost of transportation has risen only 0.91 percent in 2009.
Average consumer prices also fell for car purchases, chicken, papayas and cable television. Increases in prices were seen in bus costs, sweet peppers, casados (a staple lunchtime dish featuring meat and rice and beans), home rentals and tourist packages.
In September, the Central Bank of Costa Rica predicted the inflation rate for the year would reach between 4 and 6 percent. Barring a huge leap in consumer prices, those figures will not be met. The highest increase rate in 2009 was seen in July, when the consumer price index rose 0.92 percent.
You may be interested
Transformational travel in Costa Rica: Turning the flat world roundAlissa Grosskopf - October 16, 2018
The sound of roaring water and the fear in my body drown out the encouraging shouts of my group behind…
Children: the future of shark protectionAlissa Grosskopf - October 16, 2018
The nonprofit organization Misión Tiburón is strongly engaged in the protection of hammerhead sharks in Costa Rica. They hope to…
Trump warns Honduran president to stop migrants en route to U.S.AFP - October 16, 2018
WASHINGTON, D.C. – U.S. President Donald Trump warned his Honduran counterpart on Tuesday that he must stop a caravan of…