Dominican Republic: 1.6% Inflation up to July 2019

Between January and July 2019, accumulated inflation of 1.64% is reported, which is partly explained by the positive variation in the prices of Food and Non-Alcoholic Beverages.

Wednesday, August 14, 2019

The consumer price index (CPI) registered a 0.47% variation in July with respect to June 2019, placing the accumulated inflation of the January-July 2019 period at 1.64%. With this result, annualized inflation measured from July 2018 to July 2019 stood at 1.40%, reported the Central Bank of the Dominican Republic (BCRD).

The BCRD report states that "... The analysis of the results of the general CPI during the month of July 2019 shows that the group with the highest incidence was Food and Non-Alcoholic Beverages with a 1.46% variation with respect to the previous month, and the same explains 86.54% of the inflation of the month of July. To a lesser extent contributed the increase in the indexes of the groups Transport (0.32%), Miscellaneous Goods and Services (0.21%) and Restaurant and Hotels (0.18%).

It is worth pointing out that the increase in the general CPI during that month was reduced by the decrease registered in the CPI of the Housing group, which experienced a variation of -0.30 percent.

The variation of 1.46% in the index of the Food and Non-Alcoholic Beverages group in July 2019 is explained mainly by the increases verified in the prices of food goods, such as green bananas (10.05%), fresh chicken (1.55%), potatoes (19.43%), garlic (9.62%), ripe bananas (8.35%), green bananas (3.87%), yams (12.80%), onions (3.85%), brown sugar (2.41%), rice (0.39%), peppers (6.51%), cassava (1.78%), vegetables (4.55%), tomatoes (10.43%), sweet potatoes (12.51%), green peas (1.99%) and salami (0.55%). However, some food goods registered decreases in their prices, such as citrus lemons (-19.27%), eggs (-2.08%) and avocados (-3.69%).

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