Food prices in DR rise amid pandemic

Added to the uncertainty that Dominicans are experiencing due to the COVID-19 pandemic are the price increases that have registered more than 100 foods so far this year.

The ten products that have increased their prices the most so far this year are sour orange, avocado, squash, orange, fresh chicken, red beans, potatoes, black beans, yams, and tayota, with increases ranging from 10% to 50 % in just seven months.

According to the most recent publication of the Central Bank of the Dominican Republic (BCRD), the Consumer Price Index (CPI) experienced a variation of 1.88% in July compared to June 2020, locating the accumulated inflation January-July period of 2020 at 2.32%.

With this result, the interannual inflation, measured from July 2019 to July 2020, reached 4.35%, remaining within the target range established in the Monetary Program of 4.0% (± 1.0%).

Up and down by groups

According to the BCRD publication, the groups with the most significant contribution to the growth of the CPI in July 2020 were Food and Non-Alcoholic Beverages, varying 2.98%, followed by Transportation with 3.75%, Furniture and Household Items with 1.54% and housing with 0.77%.

It details that the monthly variation of 2.98% in the Food and Non-Alcoholic Beverages group index is due to the increases in the cost of acquisition of some goods of high relative weight in the family basket such as fresh chicken, which had a variation of 13.67%, green bananas with 7.40%, rice with a difference of 1.77% and onions with 13.28%.

Also, other products that registered increases are red beans with 5.20%, potatoes with 10.43%; tomato paste registers an increase of 4.94%, squash of 19.65%, chicken meat 6.59%, black beans 2.13%, avocados 2.45%, ripe bananas 4.08%, sardines 4.53%, chocolate bars 2.42%.

Green pigeon peas also show an increase of 2.09%, powdered milk 2.42%, purified water 2.03%, green bananas 2.63%, evaporated milk 2.49%, yams 6.06% and salami with an increase of 1.07%.

The institution reported that sour lemons showed price decreases of – 14.71% and eggs -2.14% in the opposite direction.

Transportation also increases

On the other hand, the Central Bank of the Dominican Republic reported that the Transportation group’s CPI registered an increase of 3.75% in July. They were mainly explained by the price increases in regular gasoline 7.56% and Premium 5.11%, diesel 10.79%, liquefied gas for vehicles 2.63%, due to the weekly adjustments arranged by the Ministry of Industry, Commerce, and MSMEs (MICM), in compliance with Law 112-00 on Hydrocarbons, in line with the increase in international oil prices.

Also, according to the BCRD, there were price increases in air tickets 16.24%, in public transport fares by car 13.43%, by urban bus 4.93%, by motoconcho 1.78% and in unionized buses 1.84%, as well as in automobiles 0.49% and vehicle repair services 2.76%.