Dominican Republic Inflation July 2021

Dominican Republic

Dominican Republic: Inflation declines further in July

August 8, 2021

Consumer prices rose 0.54% in July over the previous month, decelerating from the 0.63% increase logged in June.

Inflation decreased from 9.3% in June to 7.9% in July, but remained above the Central Bank’s target range of 3.0%–5.0% for the ninth straight month. Meanwhile, the trend pointed up, with annual average inflation coming in at 7.1% in July (June: 6.8%).

Looking ahead, inflation should continue to move back towards the target range, thanks to a more favorable base effect, the recent pullback in prices for some key agricultural commodities, and government measures such as a fuel price freeze, a cut in prices for certain industrial components and DOP 2 billion in credit for importers of staple food goods.

FocusEconomics panelists project inflation to end 2021 at 4.6%, which is unchanged from last month’s forecast, and 2022 at 4.1%.


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Dominican Republic Inflation July 2021

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


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