Tuesday 4 October 2022

Costa Ricans buy less due to the impact of inflation: They look for cheaper food

According to a report from the firm Kantar

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04 October 2022 - At The Banks - BCCR

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QCOSTARICA – A study by the firm Kantar revealed that Costa Ricans are buying less in the supermarket due to the impact of inflation, which, according to the Consumer Price Index (CPI), in interannual terms, stood at 11.48%.

The analysis was carried out from January to June 2022, to show the behavior of consumers throughout Central America and what is the impact caused by the rise in the cost of living.

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Vivian Gálvez, Country Manager for Central America at Kantar, the world’s leading data, insights and consulting company, commented that the contraction in the volume of consumption was in almost all countries. In addition, she explained that in Costa Rica the search for food from cheap brands increased.

According to Gálvez, another fact that drew attention in the case of Costa Rica is that the basket of beverages is being strengthened, that is, Ticos continue to consume beverages despite the increase in prices, which does not happen with dairy products.

Shopping frequency in Costa Rica fell by 3%, as consumers pay up to 7% more when they go to supermarkets.

 

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