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Inflation For Last Six Months At All Time Low

The cost of living in Costa Rica increased by only 0.62% between December and May, the lowest increase in inflation in the last 32 years of keeping records.

For consumers that means that spending today is almost as equal to six months ago on the 292 items made up of goods and services in the consumer price index.

If the behavior of prices in the past six months is maintained during the next six months, the country would enjoy an annual inflation of just 1.2%, well below the average growth in prices, around 10%, which had the country has seen in the last 27 years.

The numbers of the price consumer index were revealed by the Instituto Nacional de Estadística y Censos (INEC).

However, the Banco Central de Costa Rica (BCCR) – Central Bank – estimates that the inflation for 2009 will be between 7% and 9%.

By: Inside Costa Rica (Original here)