Costa Rica's 2014 Cumulative Inflation Reached Highest Percentage in Six Years

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    The Costa Rica News (TCRN) – The Consumer Price Index (CPI), which measures the change in prices of goods and services, reached 5.44% from January to August 2014, higher than the variation in the same period last year (3.64%).

    The goods and services that rose the most were tomatoes (27.92%), papaya (91.21%), eggs (7.48%), oranges (19.11%) and beans (71.94%), equaling an  increase of 0.33% in relation to the July inflation rate.

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    Items that had a reduced price are potatoes (13.41%), gasoline (0.94%), travel packages (3.71%), car tires (4.41%) and onions (6.49%).

    The consumption basket, as measured by the National Institute of Statistics and Census (INEC) consists of 252 goods and services, of which 50% increased in price from the previous month, 36% reported a decrease, and the remaining 14% remained unchanged.

    According to Orlando Soto, general manager of ACOBO, the first half of the year had sharp rises in inflation but now the market’s behavior is normal and he believes there is no reason to think price pressures will affect the second half of 2014.

    The Costa Rica News (TCRN)

    San Jose, Costa Rica

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