Costa Rica´s Cost of Living Increases
Over the course of the month of August, the cost of living has increase 0.7% according to the Insitituto Nacional de Stadistica y Censos (the national statistics and census institute). The consumer price index shows that items costing more than 10,000 colones in July were up by 70 colones in August.
For the past eight months (January to August) the accumulated inflation has been marked at 6.36%. During the same time period last year, the inflation was 7.22%.
The increase of the cost of living can be attributed by the cost of gasoline, milk, electricity, and eggs. For example, the cost of milk has increased by 20 colones. On the other hand, potatoes, tomatoes, and green peppers, as well as tourism sector services (hotels) have all seen a drop in their prices.
The basic food basket, (Canasta Basica) is comprised of around 292 products and services. Within this number 210 items have seen a price increase in August, while 58 decreased and 24 stayed the same.
For 2007 the projected inflation, by Banco Central de Costa Rica, was set at 8% and from September 2006 to August 2007 the inflation was 8.56%, which is one of the lowest rates of inflation in the last decade.
| Written by alanp |
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Filed under: Costa Rica News on September 5th, 2007
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Would seem that this increase is bad for anyone living in CR on a fixed income as the creeping devaluation of the colone is no longer available to offset local inflation. Has to dampen retirement plans and prospects of many, I think.