Dominican Republic Inflation May 2020

Dominican Republic

Dominican Republic: Inflation moves further below target in May

June 23, 2020

Consumer prices fell 0.11% over the prior month in May, coming after April’s 0.82% decrease. May’s reading was driven by lower prices for food and non-alcoholic beverages, and education.

Inflation fell from 1.1% in April to 1.0% in May, moving further below the Bank’s 3.0%–5.0% target range. However, core inflation—which excludes volatile items such as certain types of food, fuel and administered prices—was up from 2.8% to 3.1%.

Our panelists see inflation ending the year below target due to low commodity prices and weak economic momentum.

Our panelists see inflation ending 2020 at 2.3%, which is unchanged from last month’s forecast, and 2021 at 2.9%.


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Dominican Republic Inflation Chart

Dominican Republic Inflation May 20 20

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

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