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Costa Rica’s headline inflation experiences year-over-year variation 0,03% Last July. After 13 months of deflation (negative inflation), This is the first positive record for this indicator..
This information comes from the Consumer Price Index (CPI) released by the National Statistics and Census Institute (INEC) on Thursday morning, August 8.
The forecast model of the Central Bank of Costa Rica (BCCR) indicated in its monetary policy report last July that headline interannual inflation will be positive in the third quarter of 2024 and will reach values consistent with tolerance targets around the beginning of 2025.
The tolerance range set by the monetary authorities is ±1 percentage point around the 3% inflation target.
Visited: Costa Rica has failed to meet its inflation target in 27 of the past 28 months: What are the risks?
Monthly changes
Monthly change of CPI In July last year it was -0.12%. “The index fell after three consecutive months of increases,” said Nelson Castillo, INEC’s price index unit coordinator.
Of the 289 goods and services that make up the CPI, 38% saw price decreases, 48% saw price increases, and 14% saw no change.
Goods and services that showed the biggest negative impact on the monthly change of the index (due to falling prices) were: packages for foreign travel, air tickets and potatoes. On the other hand, onions, canned tuna and watermelon were the main food items with the biggest positive impact.
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