American Expatriate Costa Rica

CICR estimates low inflation and stable exchange rate

The study “2016 Business Outlook and competitiveness factors for the industrial sector” indicates that the members of the Chamber of Industries of Costa Rica (CICR) expect a decline in inflation and an exchange rate without major variations.

Regarding the Consumer Price Index (IPC), 45% of industrials did not want to issue estimates. According to Pedro Morales, adviser of the group, this indicates uncertainty about inflation in the near future. However, those who do venture to make estimates, forecast an average inflation of 1.3% for 2016.

96% of the responses indicated that the average exchange rate is estimated on 544.7 colones per dollar. This represents an increase of only 0.7% compared to December 2015.

In recent weeks the exchange rate continued to rise. According to Marco Chaves, financial manager of Cathay Bank, this is the result of a decrease in the level of BCCR’s interventions.

crhoy.com