Inflation Rate Trends and Forecast for Costa Rica from 1990 to 2029

Costa Rica experienced fluctuating inflation during the 1990s, with a high of 23.2% in 1995, largely due to fiscal imbalances and currency devaluation. By 2009, inflation dropped to 7.8% as the country benefited from global economic recovery and stable monetary policies. A brief period of near-zero inflation occurred between 2015 and 2016, reflecting low energy prices and subdued demand.

In 2022, inflation surged to 8.3% due to pandemic-induced supply chain issues and rising global prices. However, it sharply declined to 0.5% in 2023, with forecasts projecting a return to a stable 3.0% inflation rate by 2026. This reflects Costa Rica's successful economic management and stabilization efforts.