Year-on-year inflation in the Dominican Republic reached 3.46% in June

Santo Domingo – The Ministry of Economy informed this Friday that inter-annual inflation in the Dominican Republic stood at 3.46 % in June, thus remaining below the target range of 4.0 % ± 1.0 % for the seventh consecutive month. The inflation variation in monthly terms was 0.48 %.

In the ‘Informe de situación macroeconómica- Seguimiento de coyuntura,’ the Dominican Department of Economy, Planning and Development indicates that underlying inflation stood at 3.98 % in June, lower by 1.35 percentage points than the rate recorded in the same month of 2023.

The groups with the highest impact on 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 macroeconomic framework updated to June 2024.

The exchange rate of the Dominican peso depreciated against the US dollar by 7.0% inter-annually, to a rate of 58.99 pesos per dollar, notes the note, which also indicates that the real exchange rate index depreciated at an inter-annual rate of 6.5%.