The Central Bank of the Dominican Republic reports that the Consumer Price Index (CPI) for November 2008 went down by 3.28% from October, an unprecedented development, since this is the largest single month reduction ever registered in the Dominican Republic. As a result, the January-November inflation rate was at 6.01%.<\/p>\n
The document from the Central Bank says that the annual inflation rate, measured from November to November also fell significantly, settling at 7.21%, indicating that inflation at the end of 2008 will not go over 6%. This result is less that that registered in 2007 when it was at 8.88%, and which, in the face of what is happening in the world is a great achievement for the country.<\/p>\n
In a note sent to the media, the Central Bank explains that in spite of the accumulated inflation up to September of this year that reached double digits (10.76%), the drastic reduction in international oil prices led to a reduction in the cost of fuels and transportation at the internal level, and this permitted internal prices to register negative figures of -1.05% and -3.28% in October and November respectively. <\/p>\n
The release concludes: “this means that in just two months inflation has fallen by 4.33%, reflecting a significant deceleration of the overall inflation rate.”<\/p>\n","protected":false},"excerpt":{"rendered":"
The Central Bank of the Dominican Republic reports that the Consumer Price Index (CPI) for November 2008 went down by 3.28% from October, an unprecedented development, since this is the largest single month reduction ever registered in the Dominican Republic. As a result, the January-November inflation rate was at 6.01%. The document from the Central … <\/p>\n