The annual inflation rate in Costa Rica decreased to 1.42 percent in March 2019 from 1.54 percent in February. It was the lowest inflation rate since August 2017, as prices slowed for transportation (2.9 percent from 4.4 percent in February); health (3.0 percent from 3.1 percent); and education (3.4 percent from 3.5 percent). Also, cost of food and non-alcoholic beverages continued to fall (-1.0 percent, the same as in February). Meanwhile, prices rose further for housing and utilities (1.7 percent from 1.5 percent); miscellaneous good and services (1.7 percent from 1.4 percent); hotels and restaurants (1.9 percent from 1.7 percent); recreation and culture (2.7 percent from 2.5 percent); and alcoholic beverages (6.0 percent from 4.3 percent). Additionally, cost of communication dropped less (-0.5 percent -0.6 percent). On a monthly basis, consumer prices went down 0.14 percent, after a 0.08 percent gain in the prior month. Inflation Rate in Costa Rica averaged 14.22 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.