Saturday, November 11, 2006

Costa Rican inflation slows down

Francisco Rodriguez, Central Bank Chairman.(La Nacion) -The cumulate inflation between November 2005 and October 2006 (inter-annual) reached 10.09 percent, below the 11 percent goal for overall inflation this year set by the Central Bank. Since December 2003, this is the first time that Costa Rica returns to the inflation rates predominant from 1999 through 2003.

Even though two months remain to be evaluated, the outcome in the first 10 months follows the Central Bank's expectations. Between January and October this year, the cumulate inflation was 7.24 percent, according to the National Statistics and Census Bureau. "I believe this year we will have better-than-expected results, and the Central Bank's task is to strengthen this positive trend for it to grow strong in 2007," said Central Bank chairman Francisco Gutierrez. (Photo: Daniel Rodriguez/La Prensa Libre)

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