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Dominican Republic: Consumer prices rose 3.12% between January and August in Dominican Republic

The Central Bank of the Dominican Republic (BCRD) reported that the consumer price index (CPI) registered a variation of 0.78% in August compared to July 2020, placing the accumulated inflation of the January-August period at 3.12 %.

With this result, the interannual inflation measured from August 2019 to August 2020, reached 4.80%, remaining within the target range established in the monetary program of 4.0% ± 1.0%.

The report released by the BCRD establishes that annualized core inflation was 4.24%. It should be noted that this indicator isolates the variations in the prices of some agricultural goods that tend to be volatile, as well as of alcoholic beverages, tobacco, fuels, and managed and transport services, thus allowing the extraction of more exact signals for the conduct of monetary policy.

The publication of the monetary institution explains that the groups with the highest contribution to inflation in August 2020 were Transportation (1.51%), Food and Non-Alcoholic Beverages (0.72%), and Housing (1.02%). To a lesser extent, the variations of the group’s Health (0.91%), Miscellaneous Goods and Services (0.63%), and Education (0.77%) had an impact.

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