The annual inflation rate in Costa Rica increased to 2.07 percent in April 2019 from 1.42 percent in March. Prices rose further for transportation (4.7 percent from 2.9 percent in March); housing and utilities (3.3 percent from 1.7 percent); hotels and restaurants (2.3 percent from 1.9 percent); recreation and culture (3.1 percent from 2.7 percent); miscellaneous good and services (2.0 percent from 1.7 percent); and health (3.6 percent from 3.0 percent). Also, cost of food and non-alcoholic beverages fell less (-0.4 percent from -1.0 percent). On the other hand, prices eased for alcoholic beverages (4.1 percent from 6.0 percent) and inflation was steady for education (at 3.4 percent, the same as in March). Additionally, cost of communication declined at a faster pace (-0.6 percent from -0.5 percent). On a monthly basis, consumer prices went up 0.56 percent, after decreasing 0.14 percent in the prior month. Inflation Rate in Costa Rica averaged 14.19 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 2.70 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 3.10 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.