Economy in Costa Rica

  • Costa Rica Annual consumer prices drop for sixth consecutive month in December and hover at historical low

    COSTA RICA, 2016/01/16 Consumer prices increased 0.19% in December over the previous month, which contrasted November’s 0.01% decrease. According to the Statistical Institute, the print reflected an increase in half of the twelve components of the index, with food and non-alcoholic beverages recording the strongest rise. Consumer prices fell 0.8% in annual terms in December, which marked an development from November’s 1.2% drop and the sixth consecutive monthly decline. The six consecutive drops in annual consumer prices not only reflect subdued prices for commodities, but as well methodological changes in the calculation of the price index as the Statistical Institute recently changed the base month to June 2015. Meanwhile, annual average inflation dipped down from 1.3% in November to 0.8% in December and marked the lowest reading on record.

  • Costa Rica Economic activity in November records strongest expansion in over a year

    COSTA RICA, 2016/01/16 In November, economic activity expanded 3.6% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). November’s figure was slightly up from October’s 3.1% reading and marked the best result since June 2014. In November, the major gains were recorded in the service sector and in the manufacturing sector, which is showing signs of recovery. Compared to the previous month, economic activity expanded 0.56%, which was marginally above the 0.53% increase recorded in October. November’s print marked the strongest expansion since January 2012. Meanwhile, annual average increase in economic activity remained stable in November at October’s 2.5%.

  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.

  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.

  • Costa Rican president Laura Chinchilla

    COSTA RICA, 2013/01/17 Costa Rican president Laura Chinchilla has proposed a series of strategies to tackle a surge in investment which threaten to appreciate the country's currency, the colon, and destabilize the economy.

  • Seattle-based coffee giant Starbucks

    COSTA RICA, 2012/12/28 Seattle-based coffee giant Starbucks recently introduced its most expensive coffee ever, Costa Rica Finca Palmilera, in 48 of its U.S. stores – half of those stores in Seattle, Washington. Costa Rica Finca Palmilera is made from a rare coffee variety called Geisha, which is found in Central America and is famously difficult to cultivate. It is grown at Tarrazú, south of San José, by
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