Plunge in oil paces 30-year low 1.58% inflation, Central Bank

Santo Domingo.- The Central Bank on Wednesday said Dominican Republic’s inflation from December 2013 to December 2014, as measured by the change in the Consumer Price Index (CPI), was 1.58%, the lowest in the last 30 years and lower by more than two percentage points than the 3.88% in the same period in 2013.

In said inflation in 2014 was the second lowest in Latin America, after the dollarized economy of El Salvador.

“Core inflation, associated with monetary conditions ended the year at 2.97%, similar to the 12-month average inflation of 3.00%, which remained around the lower range target of 4.5% ± 1% referred to in the monetary program for 2014,” the Central Bank said.

It adds that the result of inflation was influenced largely by low inflationary pressures from abroad, especially the fall in oil prices.