Dominican Republic Inflation January 2017

Dominican Republic

Dominican Republic: Inflation accelerates notably in January

February 9, 2017

In January, consumer prices rose 0.62% from the previous month, which followed the 0.90% increase observed in December. According to the Central Bank, the increase mainly reflected higher prices for food and non-alcoholic beverages, transport and housing.

Inflation in January came in at 2.3%, markedly up from December’s 1.7% reading and marking a one-year high. However, the rate is still well below the Central Bank’s 3.0%-5.0% target range. Annual average inflation in January matched December’s 1.6% reading.

At its meeting on 31 January, 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 strong performance of the economy in 2016.

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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Dominican Republic Inflation Chart

Dominican Republic Inflation January 2017

Note: Annual and monthly variation of consumer price index in %.
Source: Dominican Republic Central Bank.

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