DR hits inflation of 3.57% in 2023 – El Nacional

SANTO DOMINGO.- The consumer price index (CPI) in the Dominican Republic was 0.54% in December, keeping last year’s inflation at 3.57%, the Central Bank (BCRD) reported this Wednesday.

Inflation was slightly below the central value of the target range, 4.0% ± 1.0%.

In a statement, the issuing bank also pointed out that year-on-year underlying inflation stood at 4.32% at the end of 2023, remaining within the established objective.

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This indicator “allows to extract clear signals for the conduct of monetary policy, since it does not include some items that generally do not react to the monetary or liquidity situation in the economy,” such as their prices. Foods with large variability in food, fuel or power rates, the note added.

In turn, he highlighted that the Dominican Republic “has succeeded in bringing inflation to its target range by May 2023, and is one of the first countries in Latin America to achieve this objective.”

The BCRD attributed these results to “effective coordination of monetary and fiscal policy, firstly by maintaining liquidity levels and interest rates consistent with price stability and secondly, in case of increases in imported international fuel prices, by their transfer to the consumer. Avoid” .