Dominican Republic: Inflation is Down 0.9%

After the year-on-year variation of the CPI in May of this year was only 1.3%, in June the inflationary rhythm in the country became low again, in this case it was 0.9%.

Thursday, July 11, 2019

The variation of the Consumer Price Index in June was -0.18% with respect to May, placing the accumulated inflation in the semester from January to June at 1.17%, informed the Central Bank of the Dominican Republic.

The document explains that "... Regarding the annualized core inflation, it stood at 1.95%. This indicator estimates inflationary pressures of monetary origin, isolating the effects of exogenous factors, excluding from the general CPI some agricultural goods whose prices tend to be volatile, alcoholic beverages, tobacco, fuels and managed and transportation services, thus allowing to extract clearer signals for the conduct of monetary policy.

The analysis of the behavior of the CPI reveals that the groups of greater incidence in the negative inflation of June 2019 were Transport (-1.23%) and Housing (-1.44%), while the indexes of the groups and Food and Non-Alcoholic Beverages (0.52%) and Various Goods and Services (0.23%) experienced positive variations, contributing to that the decrease in the CPI of June was not more pronounced.

The -1.23% variation in the Transport group index was mainly because of the verified price decreases in regular (-5.41%) and Premium (-5.02%) gasoline, liquefied gas (LPG) for vehicles (-7.83%) and gasoil (-5.31%), as a result of the weekly adjustments provided by the Ministry of Industry, Commerce and MSMEs (MICM), in compliance with Law 112-00 on Hydrocarbons. These price reductions were partially offset by increases in foreign fares (13.81%) and car prices (1.05%).

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