Costa Rica News – Domestic prices in Costa Rica are in danger of rising.
This is due to increases in costs for oil, wheat, corn and soybeans which affects product transportation, livestock production costs and bread making expenses.
One of the biggest concerns is oil prices. Demand has been greater than supply and prices are on the rise. Fuel impacts the production chain, as it is used in tractors and the transport of products.
Another concern is that animal feed concentrates are made from imported corn and soybeans which are increasing in cost.
The increase is in the international prices of the raw materials which has been experienced since the end of last year. The prices were in a period of stability until the fourth quarter of 2017.
This change may alter controls on inflation. If the increases turn out to be greater than those incorporated in the Macroeconomic Programming set for 2018-2019, then the BCCR would have to evaluate potential actions deemed appropriate to avoid inflation.
