Costa Rica registers negative inflation in 2015

January 8, 2016

Costa Rica ended 2015 with a negative inflation rate, thanks in large part to lower fuel and electricity costs, according to figures released by the National Statistics and Census Institute (INEC) on Friday.

It marks the first time Costa Rica has registered negative inflation since 1965 – exactly 50 years ago.

In eight of the 12 months last year, the prices of various products and services used to make up the index were in the negative, leading to an end-of-the-year variation of -0.81 percent.

“We saw an important decrease in electrical services and fuels such as gasoline and diesel in the first and second halves,” said Oddet Navarro, spokeswoman for the Price Index program at INEC.

Food products, namely produce, also saw decreases, along with bus fares, she said.

In 2014, annual inflation was 5.13 percent. Costa Rica’s highest rate of inflation in the past decade was registered in 2008 at a rate of 13.9 percent.

Facebook Comments

You may be interested

Puerto Viejo Deep Dive: Speeding on Route 256 killing animals, reshaping mobility
Tico Times Deep Dive
33 views
Tico Times Deep Dive
33 views

Puerto Viejo Deep Dive: Speeding on Route 256 killing animals, reshaping mobility

Duncan Anderson - January 24, 2019

PUERTO VIEJO, Limón — Upgrades to Route 256 in Limón, the main road stretching 20 kilometers through several South-Caribbean tourist towns,…

Costa Rica recognizes Juan Guaidó as President of Venezuela; Maduro severs ties with US, expels diplomats
News
1626 views
News
1626 views

Costa Rica recognizes Juan Guaidó as President of Venezuela; Maduro severs ties with US, expels diplomats

Alexander Villegas and AFP - January 23, 2019

Costa Rica recognized Juan Guaidó as the president of Venezuela. Guaidó, the head of Venezuela’s national assembly, declared himself acting…

Uber: Proposed law a start, but ‘far from a proposal that encourages innovation’
Uber
739 views
Uber
739 views

Uber: Proposed law a start, but ‘far from a proposal that encourages innovation’

Alejandro Zúñiga - January 23, 2019

Uber on Wednesday issued a press release criticizing the Costa Rican government's proposed law that would formally legalize ride-sharing platforms…