Dominican Republic: 2020 Begins with 4.1% Inflation

Food and non-alcoholic beverages, Transport, and Recreation and culture, were the sectors that had the greatest incidence in January for the CPI to report a 4.1% year-on-year variation.

Tuesday, February 11, 2020

The Central Bank of the Dominican Republic (BCRD) reported that the overall consumer price index (CPI) experienced a 0.33% change in January 2020 compared to December 2019, while the underlying price index or monetary conditions index experienced a 0.38% change in the first month of the year.

The official report explains that "... With this result, the annualized subjacent inflation was at 2.41%, below the lower limit of the target range established in the Monetary Program of 4.0% (± 1.0%) for general inflation. This indicator isolates the variations of the prices of some agricultural goods that tend to be volatile, alcoholic beverages, tobacco, fuels and administered and transportation services, allowing in this way to extract clearer signals for the conduction of the monetary policy. Regarding y-o-y or annualized inflation, measured from January 2019 to January 2020, the same was at 4.17%, around the central point of the target range established in the Monetary Program of 4.0% (± 1.0%).

The document adds that "... The results of the general CPI show that the groups of greater incidence in the inflation of January 2020 were Food and Non-alcoholic Beverages when varying 0.59% and Transportation with a 0.39% increase. To a lesser extent, the price indexes of Recreation and Culture (0.97%), Goods and Services (0.39%) and Restaurants and Hotels (0.33%) contributed. On the other hand, the Housing group registered -0.59% variation, contributing to the result of the general CPI not being of a greater extent.

See full report (in Spanish).

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From a Report by the Central Bank of the Dominican Republic: 

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