Inflation in Dominican Republic
Dominican Republic - Inflation (end of period)
Inflation hits highest level in nine years in January
Consumer prices rose 0.97% in January over the previous month, accelerating from December's 0.48% increase. January's figure was the sharpest increase in prices since July 2020, and was driven by higher prices for transport, food and housing.
Inflation came in at 6.2% in January, which was up from December’s 5.6%. January's figure represented the highest inflation rate since January 2012. Annual average inflation edged up to 3.9% in January (December: 3.8%). Lastly, core inflation ticked up to 4.9% from the previous month's 4.8%.
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. However, the recent surge in crude oil prices poses an upside risk.
FocusEconomics panelists project inflation to end 2021 at 3.7%, which is unchanged from last month’s forecast, and 2022 at 3.6%.
Dominican Republic - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||2.3||1.7||4.2||1.2||3.7|
5 years of economic forecasts for more than 30 economic indicators.
Dominican Republic Inflation (eop) Chart
Source: Dominican Republic Central Bank and FocusEconomics calculations
Dominican Republic Facts
|Exchange Rate||52.96||0.80 %||Jan 01|
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February 15, 2021
Consumer prices rose 0.97% in January over the previous month, accelerating from December's 0.48% increase.
February 2, 2021
Economic activity slid 1.0% year-on-year in December (November: -3.4% yoy).
January 31, 2021
At its end-January meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the fifth month running, following easing last year in the form of liquidity injections and 150 basis points of rate cuts. The decision not to cut further was likely influenced by improving domestic and external dynamics lessening the need for further stimulus: Domestically, the contraction in economic activity moderated in December, while externally, many economies performed better than expected towards the end of last year, and the vaccine rollout is supporting optimism over global growth ahead.
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 30, 2020
At its end-December meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the fourth month running, following sizable easing earlier in the year. The decision not to cut further was likely influenced by improving domestic dynamics, with the decline in economic activity continuing to moderate through November.