Tuesday 31 January 2023

Expert foresees increase in people in extreme poverty after increase in the cost of living

Paying the bills

Latest

Costa Rica’s US$160mn Circunvalación Norte

QCOSTARICA - Costa Rica opened part of San José’s...

How to Choose a Smartphone by Brand, Carrier or Features

Choosing a new smartphone for yourself can be a...

The long weekends in Costa Rica in 2023

QCOSTARICA - In 2023 there will be seven long...

Summer vacations almost over: return to classes is on Feb 6

QCOSTARICA - Next Monday, February 6, the 2023 school...

Costa Rica has the highest minimum wage in Latin America

QCOSTARICA - Costa Rica has the highest minimum wage...

Nicaragua has recovered due to exports and remittances

Q24N (EFE) The Nicaraguan economy has recovered in the...

New cases of Covid-19 in Costa Rica on the decrease

QCOSTARICA - The Ministry of Health reported a decrease...

Dollar Exchange

¢549.76 Buy

¢557.40 Sell

31 January 2023 - At The Banks - BCCR

Paying the bills

Share

QCOSTARICA – Economist, Gerardo Corrales, foresees an increase in the number of people in extreme poverty, this caused by the rise in the cost of living and the deterioration in the purchasing power due to wages not keeping up/

Year-on-year inflation in Costa Rica stood at 5.8%, according to the Índice de Precios al Consumidor (IPC) – Consumer Price Index, while real minimum wages registered a fall and stood at -3.4%.

- Advertisement -

Corrales assured that the increase in inflation is based mainly on the behavior of food and fuel prices, which have seen sharp increases in the last several months, at first being mainly blamed on the global ‘container crisis’ and the last two months on the armed conflict between Russia and Ukraine, that has resulted in historic fuel prices in our country.

According to the specialist, the number of people in extreme poverty will increase, taking into account that less economic activity is also expected for this year.

The most recent year-on-year inflation, announced by the Instituto Nacional de Estadística y Censos (INEC) – National Institute of Statistics and Censuses, is the second highest in the last 10 years.

In its report on April 7, the INEC states that the divisions with the greatest contribution to the monthly variation of the IPC are: Transport and Food and non-alcoholic beverages, which of the 289 goods and services that make up the index, 60% increased in price, 29% decreased in price and 11% did not show any variation.

See the full INEC report here.

- Advertisement -

The INEC reports that during the month of March, the relaxing of the measures, applied with the aim of reducing the exposure and transmission of COVID-19 among the population, by Health authorities made it possible to increase the collection of prices for the CPI in person.

 

 

- Advertisement -
Paying the bills
Avatar photo
Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Costa Rica has the highest minimum wage in Latin America

QCOSTARICA - Costa Rica has the highest minimum wage of Latin...

Costa Rica in 2022 recovered 75% of tourists who visited the country prior to the pandemic

QCOSTARICA - Costa Rica closed the year 2022 with the arrival...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.