Dominican Republic

Dominican Republic Inflation April 2024

Dominican Republic: Inflation drops to lowest level since June 2020 in April

Inflation fell to 3.0% in April, following March’s 3.4%. April’s result represented the weakest inflation rate since June 2020. The result was driven by moderating price pressures for food and for recreation and culture. Moreover, prices for housing dropped.

Annual average inflation ticked down to 3.8% in April (March: 4.0%). Meanwhile, core inflation was unchanged, coming in at March’s 4.0% in April.

Lastly, consumer prices fell 0.10% in April over the previous month, swinging from March’s 0.30% rise. April’s result marked the weakest reading since May 2023.

EIU analysts commented on the outlook:

“We think that inflation will fluctuate throughout 2024 (still within the 3-5% target range) and settle at 4.2% at year-end, as the demand boost from looser monetary policy, and the gradual lifting of fuel and electricity subsidies in the second half of the year, will offset a decline in commodity prices. On the one hand, inflation could come in below our forecasts if US economic growth is slower than we project, as this would dampen appetite for travel. On the other hand, a more dynamic pick-up in tourism to the Dominican Republic could spur economic growth and stoke price pressures.”

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