Indicates that with price changes, year-on-year inflation continues to decline gradually, reaching 9.43%
During the month of July, Dominican consumers perceived increases in the prices of the service of transportation (0.61%), goods and other miscellaneous (1.00%), restaurants and hotels (1.10%), food and non-alcoholic beverages (0.36%), living place (0.45%) and furniture and household items (0.80%).
Besides, the yucca (7.11%), green bananas (2.62%), yam (13.65%), onions (3.45%), Green guandules (4.61%), liquid milk (1.22%), purified water (0.63%), yautia (8.84%), vegetables (3.26%), eggs (0.78%), ripe bananas (3.44%) and rice (0.26%).
While they were favored with declines in items like the pfresh pot (-1.20%), peppers (-7.62%), sour lemons (-22.39%), avocados (-5.04%), Garlic (-4.25%) and tomatoes (-3.95%).
This is revealed by the latest report on the consumer price index (CPI) prepared by the Central Bank of the Dominican Republic (BCRD)which places inflation for the month of July at 0.50%.
The BCRD indicates that with price changes, year-on-year inflation continues to decline gradually, reaching 9.43% at the end of July 2022, which is equivalent to 0.21 percentage points below the maximum rate for this year, which reached 9.64% in April.
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He explains that the analysis of the behavior of the general CPI shows that the group that contributed the most to inflation in July 2022 was transportation, which increased by 0.61%, within which the increase in airfares stands out (23.69 %).
It stands out that the increase in air tickets had the greatest individual impact on the CPI for the month of July, explaining 18% of the variation in the index.
Meanwhile, to a lesser extent, the price increases of some land transport services such as public car (0.69%) and motoconcho (0.23%), vehicle repair services (0.72%) contributed to the inflation of this group. ), automobiles (0.19%), car washes (0.94%) and lubricants and oils (1.44%).
He points out that the variation in the index of the Transportation group was not of a greater magnitude due to the effectiveness of the subsidies for domestic fuels implemented by the Executive Branch, which have prevented an overflow of general inflation.
It also points out that the 1.10% increase in the CPI for the restaurants and hotels group responds mainly to the increase in the prices of food services prepared outside the home (1.13%).
Regarding the CPI of the housing group, it indicates that it grew 0.45% as a result of the increase in rental services (0.85%) and housing maintenance (0.89%).
It is worth noting that the variation in this group did not have a major impact on the growth of inflation in July due to the Government’s decision to nullify the increases in residential electricity service rates.
External factors affect
Inflation
The report indicates that the behavior of inflation in the domestic sphere, as in the rest of the world’s economies, continues to be affected by external factors such as the Russia-Ukraine war, which has generated additional upward pressure on imported raw materials .
