Inflation in Dominican Republic
Dominican Republic - Inflation
Inflation moves further below target in May
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%.
Dominican Republic - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.8||1.6||3.3||3.6||1.8|
5 years of economic forecasts for more than 30 economic indicators.
Dominican Republic Inflation Chart
Source: Dominican Republic Central Bank and FocusEconomics calculations
Dominican Republic Facts
|Exchange Rate||52.96||0.80 %||Jan 01|
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June 30, 2020
At its end-June meeting, the Central Bank (BCRD) left its monetary stance unchanged for the third straight meeting, after substantial easing in March to combat the Covid-19 fallout.
June 23, 2020
Consumer prices fell 0.11% over the prior month in May, coming after April’s 0.82% decrease.
June 15, 2020
The Dominican peso has fallen markedly against the USD in recent weeks, and on 12 June traded at 58.0 per USD, down 5.3% month-on-month and 8.7% year-to-date. The Covid-19 pandemic is the key factor behind the depreciation.
June 10, 2020
On 5 July the country will elect a new president and Parliament.
June 8, 2020
Economic activity was down 29.8% year-on-year in April (March: -9.4% year-on-year) due to Covid-19 containment measures, which included a curfew, border closures and the shutdown of non-essential businesses.