Dominican Republic Inflation February 2021

Dominican Republic

Dominican Republic: Inflation hits highest level since December 2011 in February

March 12, 2021

Consumer prices rose 0.68% in February over the previous month, a smaller increase than the 0.97% rise seen in January. February’s reading was driven by higher international oil prices.

Inflation increased to 7.1% in February, from January’s 6.2%. February's result was the highest inflation rate since December 2011. Meanwhile, the trend pointed up, with annual average inflation coming in at 4.2% in February (January: 3.9%). Core inflation rose to 5.4% from the previous month's 4.9%.

Recent price pressures are judged to be partly transitory, amid weather-related supply issues and higher import prices, and panelists see inflation falling back into the 3.0%–5.0% target range this year as the impact of these factors fades. However, the recent surge in crude oil prices poses an upside risk.

FocusEconomics panelists project inflation to end 2021 at 3.7%, which is unchanged from last month’s forecast, and 2022 at 3.6%.


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Dominican Republic Inflation Chart

Dominican Republic Inflation February 2021

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

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