QCOSTARICA — San José, Costa Rica’s capital city, is the third most expensive city to live in Latin America according to the “Ranking sobre el costo de vida internacional Mercer 2024” (2024 International Cost of Living Ranking) published by Mercer.
The report made public in June evaluates 226 cities around the world and considers the comparative costs of 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.
These elements are essential to understanding the economic dynamics of cities and how they affect the quality of life of their inhabitants.
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In the case of San José, the increase in the cost of living in the last year has been notable, standing out as one of the 10 cities in the world that have experienced the most increases, according to a report published last January by the British magazine, The Economist.
In this sense, rental housing, gasoline, new cars, tomatoes, watermelon, onions and tourist packages abroad, are the products that increased the most in price during June, according to the most recent Precios al Consumidor del Instituto Nacional de Estadística y Censos (Consumer Price Index of the National Institute of Statistics and Censuses).
Of the 289 goods and services that make up the index, 47% increased in price, 36% decreased in price and 17% did not change.
On the other hand, inflation in Costa Rica, which registered an increase of 0.14% in June, still remains below the goal established by the Central Bank, which is 3%.
This context highlights the tensions between people’s income and the increase in the cost of living, a phenomenon that has worsened in recent years.
Of the 289 goods and services that make up the Consumer Price Index in Costa Rica, 47% increased in price, 36% decreased and 17% did not change:
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- Tour packages abroad, 13.71%
- New cars, 3.05%
- Onion, 6.76%
- Housing rental, 0.39%
- Gasoline, 0.49%
- Tomato, 4.66%
- Pet food, 1.30%
- Watermelon, 8.98%
- Outpatient surgeries, 2.96%
Worldwide, San Jose ranks as the 36th most expensive city to live in and is behind Nassau, which ranks first in the region.
Mexico City, which has risen drastically, ranks third in Latam and 33rd in the world.
Mercer’s annual ranking provides trends and an overview for those who need to make informed decisions about global mobility operations.
The 10 most expensive cities to live in Latin America in 2024
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- Nassau, Bahamas
- Mexico City, Mexico
- San Jose Costa Rica
- Montevideo, Uruguay
- San Juan Puerto Rico
- Buenos Aires, Argentina
- Monterrey Mexico
- Sao Paulo, Brazil
- Guatemala City, Guatemala
- Rio de Janeiro Brazil
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