Dominican Republic: Inflationary Rhythm Keeps Accelerating

In October, the Consumer Price Index rose 2.5% year-on-year, up from 2% in September 2019.

Tuesday, November 19, 2019

The consumer price index (CPI) in October 2019 registered a 0.67% variation with respect to the month of September, placing accumulated inflation from January to October at 3.06%, explains a report by the Central Bank of the Dominican Republic.

The report adds that "... As for the annualized core inflation, it registered a 2.23% year-on-year rate. 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 transport services, thus allowing to extract clearer signals for the conduct of monetary policy.

The results show that the group with the greatest contribution to the general CPI variation in October 2019 was Food and Non-Alcoholic Beverages, with a 1.22% increase, explaining approximately half of the month's inflation. It is followed in order of incidence Transport with a 0.82% inflation, Alcoholic Beverages and Tobacco (2.37%) and Housing (0.62%).
 
The variation of 1.22% in the price index of the Food and Non-Alcoholic Beverages group in October 2019 is mainly due to increases in the prices of some highly weighted agricultural goods in the family basket, whose production has been affected by the prevailing weather conditions during the year.
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Download the official report (in Spanish).

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