Inflation Up in Costa Rica
Costa Rica will probably exceed its expected inflation rate of 9% in 2008, according to an announcement made by President Oscar Arias. Inflation there was 10.8% last year.
Inflation across Latin America has increased over the past few months as fast developing economies like India and China boost global demand for food and commodities. The economic downturn in the U.S. will probably result in slower growth in other parts of the world including Latin America.
Costa Rica’s central bank says it anticipates the economy to grow 3.8% this year, down from 6.8% in 2007.
Posted by on 04/04 at 06:39 PM