The Central Bank of Costa Rica published its latest comment on the national economy, summarizing the board’s periodic review of domestic and international macroeconomic conditions. The review highlighted weaker global growth projections for 2026 and 2027, with inflation expected to remain above the targets of most central banks. It also described the first half of 2026 as a period of relatively moderate growth in major economies accompanied by higher inflation, largely due to higher energy and basic grain prices linked to the conflict in the Middle East, while noting that most central banks have held policy rates steady and some have raised them. Domestically, the Monthly Index of Economic Activity rose 3.5% year on year in May 2026, driven by professional and administrative services, construction, education and health services, and financial and insurance services. The unemployment rate stood at 6.7%, while labor force participation and employment rates were below their levels a year earlier. Goods trade with the rest of the world showed a smaller cumulative deficit relative to GDP, largely because of stronger manufactured exports in both special regimes and the definitive regime.
Central Bank of Costa Rica2026-07-23
Central Bank of Costa Rica reviews macroeconomic conditions, notes 3.5% growth in May and weaker global outlook
The Central Bank of Costa Rica issued a periodic macroeconomic review that pointed to slower global growth in 2026 and 2027 and inflation remaining above most central bank targets. For Costa Rica, it reported 3.5% year-on-year growth in the Monthly Index of Economic Activity in May 2026 and a 6.7% unemployment rate. It also noted a narrower goods trade deficit relative to GDP, supported by stronger manufactured exports.