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.