Saturday, 8 August 2020

Regulated Prices Grew Double Inflation

Agua-652x300

The price of public services like water, electricity and gasoline are all regulated by the government agency, the Autoridad Reguladora de los Servicios Públicos (ARESEP).

According to the Banco Central (Central Bank), the Aresep increased regulated service prices by 13.5% in the past year, while the inflation rate was 5.7%. It was July when began the increase in the difference between the two indicators.

Aresep spokesperson, Carolina Mora, cites services by the state power company,  Instituto Costarricense de Electricidad (ICE) was the fastest growing, using oil to generate electrical power.

- paying the bills -

Mora explained that some of the increases approved last year had delayed adjustments that went into effect in the second half of 2012.

The increase in prices of public services higher than the overall cost of living affects local business and job productivity, according to the experts.

- paying the bills -
- paying the bills -
Rico
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

[BLOG] Costa Rican Electric Company – General Maintenance Procedures

During my fifteen plus years of living in Costa Rica, I...

Heliport, Money and Weapons in Costa Rica

Following reports by residents of Las Asturias de Pococí about flyovers...

MOST READ

U.S. Repatriation flights In August

(QCOSTARICA) The U.S. Embassy in San Jose, Costa Rica, has posted the latest information on repatriation flights to and from the United States and...

Yes, it was possible! INS now offers tourists low rate travel insurance

(QCOSTARICA) After a week of criticism from many sectors, State insurer, the Instituto Nacional de Seguros (INS), announced this Friday the new rates that...

Mayors promised some businesses to operate during closings

(QCOSTARICA) The Government committed to orange zone mayors easing vehicle restrictions and allow some businesses to operate during the closure phases (August 10 to...

Brazil’s first lady tests positive for Covid-19

(Q24N) Michelle Bolsonaro's positive test for COVID 19, follows a rally in the capital Brasilia during which she gave a speech with a mask...

INS to launch lower-priced insurance for tourists traveling to Costa Rica

(QCOSTARICA) The Instituto Nacional de Seguros (INS) said Saturday it is working on a new insurance policy for travelers, with lower coverage, "which may...

Covid-19 in Costa Rica: More than 20,000 cases; 100 patients in ICU

(QCOSTARICA) At one day away from the first caser five months after the first COVID-19 patient was reported in Costa Rica, the cumulative number...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.