Dominican Republic Inflation March 2021

Dominican Republic

Dominican Republic: Inflation hits fresh multi-year high in March

April 15, 2021

Consumer prices rose 0.60% in March over the previous month, a smaller increase than the 0.68% rise seen in February. March’s reading was driven by higher energy prices.

Inflation increased from 7.1% in February to 8.3% in March. March's result was the highest inflation rate since November 2011. Meanwhile, the trend pointed up, with annual average inflation coming in at 4.7% in March (February: 4.2%). Core inflation rose to 5.6% from the previous month's 5.4%.

Recent price pressures are judged to be partly transitory, amid an unfavorable base effect and higher import prices, and panelists see inflation falling back into the 3.0%–5.0% target range later this year as the impact of these factors fades.

FocusEconomics panelists forecast inflation to end 2021 at 3.9%, which is up 0.2 percentage points from last month’s forecast, and 2022 at 3.9%.


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Dominican Republic Inflation Chart

Dominican Republic Inflation March 2021

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

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