Dominican Republic: Inflation hits six-month high in November
December 7, 2012
In November, consumer prices rose 0.63% over the previous month, which nearly tripled the 0.24% increase seen in October. According to the Central Bank, the reading was mainly driven by strong increases in prices for food and non-alcoholic beverages as well as for housing.
As a result, annual headline inflation rose from 2.8% in October to 3.4% in November, the highest reading in six months. That said, despite the monthly hike, inflation remains well below the Central Bank's target of 5.5% with a 1.0 percentage point tolerance margin set in the Monetary Policy Program for 2012.
Meanwhile, at its 30 November meeting, the Central Bank left the monetary policy rate unchanged at 5.00%, following a similar decision in October.