July 31, 2024
According to Dominican Today, The Dominican Republic’s Ministry of Economy announced on July 26 that inter-annual inflation in the Dominican Republic was 3.46% in June, remaining below the target range of 4.0% ± 1.0% for the seventh consecutive month. The monthly inflation variation was 0.48%.
The Dominican Department of Economy, Planning and Development reported that underlying inflation stood at 3.98% in June, 1.35 percentage points lower than the rate recorded in the same month of 2023.
The groups that contributed most to the monthly increase in the general price level in June were food and non-alcoholic beverages, with a monthly variation of 0.75% and an impact of 0.19%; transportation (variation of 0.61% and impact of 0.11%); and miscellaneous goods and services (variation of 0.63% and impact of 0.07%).
According to a ministerial press release, inflationary pressures are expected to remain low in the domestic market, with an average projection of 3.50% according to the updated macroeconomic framework for June 2024.
The Dominican peso depreciated by 7.0% against the US dollar on an inter-annual basis, reaching an exchange rate of 58.99 pesos per dollar. The note also indicates that the real exchange rate index depreciated at an inter-annual rate of 6.5%.
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