Monday 21 June 2021

Retailers Say There Will Be No Immediate Drop in Prices Despite Downward Trend in Dollar Exchange

The Avenida Central (Bulevar), downtown San José.
The Avenida Central (Bulevar), downtown San José.

The dollar exchange has dropped in the last couple of weeks and continues on a downward trend, leading to cheaper imports, however, retailers say they will not be dropping the prices of good and services until their current inventories run out.

The drop may not occur for two weeks or even a month or more, well past Mother’s Day, which is celebrated in Costa Rica on August 15 of every year.

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The president of the Cámara de Comercio de Costa Rica (CCCR) – Chamber of Commerce, Francisco Llobet, confirmed to the tendency to keeping higher prices for the coming weeks.

Llobet said that when the dollar exchange went up we didn’t see prices increase overnight. The same – no immediate change in prices – is expected that now that the dollar exchange has dropped.

The logic is that if the dollar exchange drops, so should the prices. However, that is not the reality, because there is high uncertainty, entrepreneurs not being sure if the exchange will continue to drop or rise again the following month, say the experts.

At the beginning of the year, the dollar exchange was ¢500 colones, slowly climbing to ¢560 by the end of March (first quarter), then dropping in the past weeks, trading yesterday at ¢545.

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We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

"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.

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