Dominican Republic Inflation February 2017

Dominican Republic

Dominican Republic: Inflation accelerates notably in February

March 9, 2017

In February, Dominican consumer prices rose 0.42% from the previous month, which followed the 0.62% increase observed in January. According to the Central Bank, the increase mainly reflected higher prices for food and non-alcoholic beverages, transport and housing.

Inflation in February came in at 3.3%, markedly up from January’s 2.3% reading and marking a 13-month high. The rate thus moved into the Central Bank’s 3.0%-5.0% target range. Annual average inflation in February came in at 1.7%, marginally up from January’s 1.6% reading.

At its meeting on 28 February, the Central Bank decided to maintain its monetary policy rate at 5.50%, taking into consideration the latest data on inflation, market expectations and recent developments in the most important macroeconomic indicators, in particular the healthy expansion of lending activity in February.

FocusEconomics Consensus Forecast participants expect inflation to end 2017 at 2.0%, which is down 0.1 percentage points from last month’s projection. Panelists project inflation of 3.1% in 2018.


Author: Massimo Bassetti, Economist

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