Dominican Republic

Dominican Republic Inflation December 2023

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

Inflation came in at 3.6% in December, which was down from November’s 4.0%. December’s reading represented the weakest inflation rate since June 2020. Looking at the details of the release, December’s deceleration chiefly reflected prices for food rising at a softer rate. In addition, prices for transport increased at a slower pace. Lastly, recreation and culture price growth also moderated.

Accordingly, the trend pointed down, with annual average inflation coming in at 4.8% in December (November: 5.1%). Meanwhile, core inflation fell to 4.3% in December, from the previous month’s 4.5%.

Lastly, consumer prices increased 0.54% over the previous month in December, picking up from November’s 0.14% rise. December’s figure marked the highest reading since January.

In December, inflation fell below the mid-point of the Central Bank of the Dominican Republic’s 3.0–5.0% target band. With core price pressures having also receded in December, the Central Bank seems to have room to resume its loosening cycle when it convenes next at the end of January.

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