Dominican Republic Inflation July 2016

Dominican Republic

Dominican Republic: Inflation is stable in July

August 4, 2016

In July, consumer prices increased 0.19% over the previous month, which was down from the 0.60% rise observed in June and marked the lowest reading in three months. According to the Central Bank, the increase mainly reflected higher prices for food and non-alcoholic beverages.

Inflation in July remained stable at June’s 1.9%. Annual average inflation inched up from June’s 1.5% to a 13-month high of 1.6%. Headline inflation remains well below the lower bound of the Central Bank’s tolerance margin of plus/minus 1.0 percentage point around its 4.0% target rate.

At its meeting on 29 July, the Central Bank decided to maintain its monetary policy rate at 5.00%, taking into consideration both the inflation outlook and recent developments in the most important macroeconomic indicators, mainly the good performance of domestic demand as well as the strong rate of expansion in economic activity.

FocusEconomics Consensus Forecast participants expect inflation to end 2016 at 2.5%, which is down 0.1 percentage points over last month’s projection. Panelists project inflation of 3.1% in 2017.

Author: Massimo Bassetti, Economist

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Dominican Republic Inflation Chart

Dominican Republic Inflation July 2016 0

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

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