Dominican Republic Inflation December 2020

Dominican Republic

Dominican Republic: Inflation hits highest level since July 2013 in December

January 14, 2021

Consumer prices rose 0.48% over the previous month in December, which was below the 0.60% rise recorded in November. December's result marked the softest rise in prices since May. December’s lower reading was driven by a fall in food prices.

Inflation came in at 5.6% in December, up from November’s 5.3%. December's reading marked the highest inflation rate since July 2013. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 3.8% in December (November: 3.6%). Lastly, core inflation rose to 4.8% from November’s 4.6%.

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.

FocusEconomics panelists forecast inflation to end 2021 at 3.3%, which is unchanged from last month’s forecast, and 2022 at 3.9%.


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Dominican Republic Inflation Chart

Dominican Republic Inflation December 20 20

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

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