Accumulated inflation during 2017, estimated with the variation of the Consumer Price Index (CPI), amounted to 2.57%, according to figures from the National Institute of Statistics and Census.
At this level, the indicator was within the target range foreseen by the Central Bank, between 2% and 4%, after several years of being outside this forecast. The relative stability of international prices and a low depreciation of the colón influenced this result.
In the last ten years, the highest annual variation was presented in 2008 with 13.90%, while 2015 was the only year with a negative annual variation (-0.81%). In the last month of the year, the price variation reached 0.47%, the second highest of the last 12 months.
Of the 315 goods and services that make up the consumer basket, 50% increased in price, 37% decreased and 13% did not change. The greatest increases were recorded in onions (37.7%), potatoes (31.8%), avocados (7.32%) and tourism packages (5.07%).
When analyzing the percentage variations in the prices of the 12 groups that make up the index, the Food and non-alcoholic drinks group has the greatest effect on the variation of the general index.
December 2017 registered the second highest monthly variation of the last five years, second only to 2013.