Inflation figure for February was highest since 2008

Inflation is beginning to rear its head in Costa Rica.

The national statistical agency said Monday that inflation in February was 1.02 percent. That is much greater than the .28 percent of last year and higher than all the years since 2008 when the February inflation was 1.11 percent.

Inflation for January and February is 2.34 percent. However, firms that track inflation, like the INS Valores Puesto de Bolsa, S.A. said that its experts expect that the Banco Central will keep an eye on inflation and hold the annual rate to about 5 percent.

The official figures are produced by the Instituto Nacional de Estadística y Censos.

The inflation figure is based on consumer prices. There were increases in 59 percent of the items that make up the index during February. Just 33 percent of the items decreased.

Some of the increases have been in the prices of services, like electricity, which is fixed by the government.

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