The year-on-year inflation in the Dominican Republic stood at 3.46% in June

The year-on-year inflation in the Dominican Republic was 3.46% in June, remaining below the target range of 4.0% ± 1.0% for the seventh consecutive month, while the monthly inflation variation was 0.48%, the Ministry of Economy reported on Friday.

In the ‘Macroeconomic Situation Report – Monitoring of the Current Situation’, the Dominican Department of Economy, Planning and Development indicates that underlying inflation stood at 3.98% in June, 1.35 percentage points lower than the rate recorded in the same month in 2023.

The groups with the greatest 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 incidence of 0.19%; transport (variation of 0.61% and incidence of 0.11%) and miscellaneous goods and services (variation of 0.63% and incidence 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%, in accordance with the macroeconomic framework. updated by June 2024.

The exchange rate of the Dominican peso showed a depreciation against the US dollar of 7.0% year-on-year, for a quote of 58.99 pesos per dollar, the note says, also noting that the real exchange rate index depreciated at an interannual rate of 6.5%.