The annual inflation rate in Costa Rica picked up to 2.89 percent in July 2019, the highest since March 2015, from 2.42 percent in the prior month. Main upward pressure came from food & non-alcoholic beverages (2.70 percent vs 1.51 percent in June), housing & utilities (3.69 percent vs 3.05 percent), health (5.78 percent vs 3.75 percent) and alcoholic beverages & tobacco (4.01 percent vs 3.52 percent). Meanwhile, cost slowed for transport (2.87 percent vs 3.69 percent). On a monthly basis, consumer prices inched up 0.73 percent, after rising 0.27 percent in the preceding month. Inflation Rate in Costa Rica averaged 14.12 percent from 1977 until 2019, reaching an all time high of 108.89 percent in September of 1982 and a record low of -1.20 percent in November of 2015.
Inflation Rate in Costa Rica is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Costa Rica to stand at 2.80 in 12 months time. In the long-term, the Costa Rica Inflation Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.