Inflation in Costa Rica soaring.

[wilheim]

<TABLE cellSpacing=0 cellPadding=5 width=473 border=0><TBODY><TR><TD class=style150 align=justify height=31>Costa Rica inflation surges in
June; travel, food lead the pack </TD></TR><TR><TD class=style156 align=justify height=25>By Leslie Friday
Tico Times Staff </TD></TR><TR><TD class=style156 height=26>The cost of living in Costa Rica keeps getting higher, as the consumer price index for June saw the second highest spike this year, registering at 1.4 percent, according to the National Statistics and Census Institute (INEC).

So far this year, consumers have seen 6.55 percent inflation in basic goods and services, easily threatening to surpass the Central Bank's goal of 8 percent for 2008. Inflation for the past 12 months has now reached 12.82 percent.

That year-to-year rate for June is the second highest in 10 years. The highest was in June 2005 at 13.76 percent.

The consumer price index measures the average variation in price of a group of most commonly used goods and services. In June, 73 percent of the items in this basic basket increased, while 18 percent decreased.

Prices for transportation, and food and non-alcoholic beverages spiked the most last month at 2.98 percent and 2.09 percent, respectively. INEC pointed to rising gas and plane ticket prices for high transportation costs, while increases in the price of tomatoes and cilantro caused higher food bills.

The only sector in which prices dropped, by 0.07 percent, was rent and utilities.

Costa Rican consumers have been hit hard on the road and in the markets during the past 12 months. INEC reported that food and beverage prices increased 23.61 percent, eating in restaurants 16.59 percent and transportation 11.89 percent from June 2007 to the same period this year.


wil.
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[VIEJODINOSAUR]

Disturbing trend...and the crime only gets worse...time for the honest politicians of Costa Rica to stand up and do something!!

 

[fuzebox]

I'm noticing it a lot... When I first moved here it was partially for the cost of living. Higher end stuff (hotels, spas, finer dining, etc) was super cheap... Now a meal at a nice restaurant costs as much as it would in the usa. Even mediocre bars are charging ridiculous amounts for cocktails and stuff.

I always laugh when we go to Florida because it costs less than a trip to Guanacaste (not counting flight) for 10x the quality of experience.

 

[DodgerFan1]

this fucking government is totally useless.... now we are starting to discover the real intentions of our "goody-goody nobel prize" president. TLC was only a business for some, and i know it hasnt been totally approved, but nothing will chance if it does. He's such a clown, i remember when he told a bunch of people in Cartago that with the TLC people on bicycles would ride in motorcycles and people on Hyundays/Nissans would ride in BMWs/Mercedes... I bet he didnt see the oil prices going up so fast a year ago, he's just a numb old fart.

 

[AdamSelene]

LONDON (AFP) - Biofuels have caused world food prices to increase by 75 percent, according to the findings of an unpublished World Bank report published in The Guardian newspaper on Friday. The daily said the report was finished in April but was not published to avoid embarrassing the US government, which has claimed plant-derived fuels have pushed up prices by only three percent. Biofuels, which supporters claim are a "greener" alternative to using fossil fuel and cut greenhouse gas emissions, and rising food prices will be on the agenda when G8 leaders meet in Japan next week for their annual summit. The report's author, a senior World Bank economist, assessed that contrary to claims by US President George W. Bush, increased demand from India and China has not been the cause of rising food prices. "Rapid income growth in developing countries has not led to large increases in global grain consumption and was not a major factor responsible for the large price increases," the report said. Droughts in Australia have also not had a significant impact, it added. Instead, European and US drives for greater use of biofuels has had the biggest effect. The European Union has mooted using biofuels for up to 10 percent of all transport fuels by 2020 as part of an increase in use of renewable energy. All petrol and diesel in Britain has had to include a biofuels component of at least 2.5 percent since April this year. "Without the increase in biofuels, global wheat and maize stocks would not have declined appreciably and price increases due to other factors would have been moderate," the report said. It added that the drive for biofuels has distorted food markets by diverting grain away from food for fuel, encouraging farmers to set aside land for its production, and sparked financial speculation on grains. But Brazil's transformation of sugar cane into fuel has not had such a dramatic impact, the report said. "The basket of food prices examined in the study rose by 140 percent between 2002 and this February," The Guardian said. "The report estimates that higher energy and fertiliser prices accounted for an increase of only 15 percent, while biofuels have been responsible for a 75 percent jump over that period."

 

[wolfie_cr]

and i know it hasnt been totally approved, but nothing will chance if it does.

we will see about that

in the mean time things are changing because it has not

http://www.nacion.com/ln_ee/2008/junio/19/economia1584030.html

 

[DodgerFan1]

i wont argue with u again about this... it has been done and it bored me to death. i know you are a fan of the TLC, now sit wolfie

 

[wolfie_cr]

a good thing out of the TLC, INS has made their car insurance policies more flexible, now if you want to insure your car against theft and nothing else you can, before you had to get a whole bunch of stuff you didnt want, they do this of course as new companies are going to offer them

another thing, inflation is up WORLDWIDE, I bet that's Arias fault too

hard to argue with facts unfortunately bark bark :nohead:


speaking of which and just so you know I don't endorse what Arias does all the time, I want a freaking refund of my marchamo.........all 1/7th of it, if they are not going to let me use MY car then I want them to refund me that tax I pay to use MY car. of course goverments only know how to print invoices, not refunds

 

[hater]

I always laugh when we go to Florida because it costs less than a trip to Guanacaste (not counting flight) for 10x the quality of experience.

No shit....CR prices are ridiculous. I prefer vacationing outside this country because prices are not worth it's attractiveness.

Costa Rica is beautiful, but far away from the prices charged here.

 

[hater]

LOL.

This thread is getting interesting.