Inflation in Costa Rica to End Year at Lowest Level in Four Years

Inflation in Costa Rica to End Year at Lowest Level in Four Years

A 2013 report shows further acceleration of economic activity and fewer inflationary pressures, said Rodrigo Bolaños, President of Banco Central de Costa Rica (BCCR).

Bolaños participated in a conference organized by the Chamber of Banks and Financial Institutions of Costa Rica.

According to the chief, the variation in prices hover around 4% and if consistent till year end, would be the lowest level since 2009 , when it closed at 4.05%. Between 2010 and 2012, inflation ranged between 4.5% and nearly 6%.

” …dangers include the price of oil … I believe we could close the year around 4% inflation, “said Bolanos.

The recovery in production could boost GDP growth above 3% forecast for this year by the monetary authority.
The chief said that the rate of credit growth of around 11%, and is not a source of concern for the Central Bank, however, the composition of the portfolio it is. Placements of dollar credit recorded a variation of 15%.

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