Costa Rica recorded its second negative annual variation of the last decade in 2025. This deflationary phenomenon (-1.23%) is primarily driven by a sustained decline in the prices of fuel, transportation, and several basic food staples throughout most of the year, partially bolstered by the stability of the exchange rate.

Year-End Seasonal Rebound: Despite the negative cumulative figure, the final quarter showed a shift in trend. December marked the third consecutive month of positive variation (+0.08%), signaling that prices have stopped falling and are beginning a normalization process toward the Central Bank’s official target (3%).

Production and Consumption: Economic growth remained robust, fueled by domestic consumption and the dynamism of special trade regimes (Free Trade Zones). However, the agro-export sector continues to closely monitor the appreciation of the colón, which has been a decisive factor in controlling inflation but remains a challenge for external competitiveness.