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Costa Rica Inflation On The Rise

Costa Rica Inflation

Costa Rica's inflation rate is registered at 0.57% for the month of October this year. Although it's slightly lower than the previous month, some say it's not low enough.

With 7.65% accumulated inflation for the year, Central Bank President Francisco de Paula Gutiérrez said that the bank will probably not meet its annual goal: keeping inflation below 8%.

In a speech before the Chamber of Banks, Gutiérrez blamed high food and fuel prices – mostly on imports – for not achieving their goal, according to the daily La Nación.

“These factors are exogenous to monetary policy, where the Central Bank can't do anything,” Guitérrez said.

Inter-annual inflation, inflation accumulated during the last 12-month period, has reached 9.84%.

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