Costa Rica’s annual inflation rate slowed for the fifth consecutive month to 7.65% in January from 7.88% in the previous month, the lowest reading since April 2022, amid softer rises in food and transportation prices. Meanwhile, the country’s fiscal deficit fell to 2.5% of GDP in 2022, compared with a 5% deficit in 2021, while the primary surplus increased to 2.1% of GDP in 2022, up from a 0.3% deficit in 2021.