FACT LOWEST SINCE 1977
Inflation reaches historic high of 1.81% in April
The Consumer Price Index closed the first quarter of the year with a negative variation of 0.06%
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BY MARÍA FERNANDA CISNEROS /
maria.cisneros@elfinancierocr.com / 05 MAY 2015, 10:50 a.m.
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NEWS / 24 JUL 2014 / GN FILE FOR EF
In detailing the change in prices between March and April this year, the largest increase was gasoline.
Super gasoline began the year at ¢ 672 per liter and now worth ¢ 816.
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Annual inflation, measured by the Consumer Price Index (CPI), closed last April with a variation of 1.81% , according to the National Institute of Statistics and Census (INEC).
This figure is lower than that registered in the country since it began this measurement (1976) . The lowest levels that were observed were of 2.57% in November 2009 and 2.60% in February 1977.
Furthermore, the result of 1.87 percentage points in April is below what it reported in the same month in 2014.
Is I is the fifth consecutive month in which inflation slows , reaching what some economists envisioned since the beginning of the year, that is, the indicator could be located soon below the target range of the Central Bank of Costa Rica (BCCR), established between 3% and 5%.
Even last month, Eduardo Prado, manager of Central, had warned of the possibility that the indicator will temporarily be reduced to below that range.
At the time, he said that there were events in the external and internal context that, if adopted, could bring inflation down in the coming months.
Other reports also projected the same, as is the case study of economic prospects of the University of Costa Rica (UCR), which last week estimated inflation located between 1% and 2% for June .
According to the Central, the reasons for the decline in the CPI are focused on the external front, in the evolution of raw materials, especially oil . In the local scene, weather conditions have favored the production of certain agricultural goods, as well as downward adjustments in rates of some regulated utilities.
After the announcement of the result of inflation for the month of April, the Central stressed its commitment to objetitvo range indicator . He stressed that will remain vigilant of the evolution of the variables that determine inflation, in order to adjust the monetary policy stance consistent with the target.
In detailing the results of the variation for each group making up the CPI, the most significant drop was in transport, down 5.44% , followed by clothing and footwear with a negative figure of 1.11% .
In contrast, the highest growth were food and non-alcoholic beverages (6.43%) , followed closely by the health segment, which increased by 6.41%. Others who rebounded were education (5.64%) and miscellaneous goods and services (5.57%).
End of the first quarter
The IPC closed the first four months of the year with a negative variation of 0.06% .
The drop was mostly driven by a fall of 4.12% in the transport category, 2.41% for rent and housing services.
Meanwhile, the segments were more rebounded education (5.19%), alcoholic beverages and cigarrllos (2.78%) and health (2.47%).
The April monthly change was negative by 0.08% .
The CPI consumption basket make 292 the goods and services and of these, 48% price increase from March, while 39% fell and the remaining 13% saw no change.
Which they increased were gasoline, potatoes, cigarettes, lemon acid and prescription glasses .
On the other side, those who perceived a decrease were electricity, the green beans, eggs, paint for housing and banana.
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