According to data released by the Central Bank of the Dominican Republic, the cost of the basic food and services basket for the Dominican family has gone up on average more than RD$2,400 since January 2022. Further analysis shows that in the first quintile of the year, the poorest families saw an increase of 6.43%, or RD$1,842.25. The highest quintile, those who are the wealthiest, saw an absolute increase of RD$3,600.00, but this was just a 5.43% increase.
The average price overall of the basic food and services basket was calculated at RD$40,000 at the end of 2021 and at RD$42,482 as of 30 September.
The Consumer Price Index has been declining, and Central Bank governor Hector Valdez Albizu noted that end-of-year inflation should settle at about 7% for the nation.
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El Caribe
Central Bank
24 October 2022