Cost of the family basket rose in all quintiles

Santo Domingo—According to the Ministry of Economy, Planning and Development’s Macroeconomic Situation Report, the cost of the family food basket rose in all quintiles last July. Still, the most significant variation was in quintile 1, with an increase of 0.74%, equivalent to RD$200.3.

From June to July of this year, the cost of the family basket of quintile 1, made up of those with the lowest income, went from RD$27,044.03 to RD$27,244.32.

Quintile 1 represents 20% of the households with the lowest level of expenditure, while quintile 5 consists of 20% of the households with the highest level of expenditure.

In quintile 2, the cost of the family basket increased by 0.65% (RD$227.9), going from RD$35,189.60 to RD$35,417.52.

Quintile 3 varied by 0.61%, increasing RD$252.9, going from RD$41,562.33 to RD$41,815.21.

According to the Ministry of Economy, the increases in the first three quintiles are mainly due to the higher incidence of food products.

In quintile 4, the basket cost rose RD$230, equivalent to a 0.48% increase. Between June and July, it went from RD$48,183.67 to RD$48,413.67.

The average cost of the national family basket is RD$45,494.6, for an increase of 0.53% over June.

In July, all regions registered increases in annual inflation rates.
The South region registered the highest increase, with a variation of 0.73%, due to the significant impact of the area’s food and non-alcoholic beverages group.

The North and East regions followed, with variations of 0.60% and 0.59%, respectively. The Ozama region had the smallest increase, with a variation of 0.40%.

In inter-annual inflation, the Southern region led with a rate of 4.11%, followed by the Ozama region with 3.48% and the Eastern region with 3.62%. The Northern region registered the lowest inflation rate for the eighth month, 3.36%.

In September 2020, the cost of the family basket was RD$15,109.69 for the first quintile and RD$66,097.90 for the highest quintile.

The country’s family basket includes goods and services, such as food, clothing, housing, medicines, medical consultations, transportation, household appliances and education.

In July, tradable goods increased by 0.69% compared to June.
This increase was mainly due to increases in food items with a high basket weighting, such as fresh chicken and rice, as well as in housing rent, meals prepared outside the home, and personal care services. Prices of tradable goods rose 0.37% in July.