Dominican Republic’s annual inflation falls to 5.13% in August

Annual inflation in the Dominican Republic eased to 5.13% in August, down from 5.47% in July, but remained outside the Central Bank’s target range of 4.0% plus or minus 1 percentage point.

The Consumer Price Index rose 0.38% during the month, with the largest pressure coming from education. Prices in that category increased 2.72% as private schools and universities raised fees at the start of the academic year. Books and school transportation also became more expensive.

Furniture and household goods rose 0.45%, reflecting higher consumer prices for cleaning and household-maintenance products. Food and non-alcoholic beverages increased 0.42%, led by higher prices for potatoes, fresh chicken, rice, purified water, fresh vegetables, green pigeon peas, soft drinks and passion fruit.

Core inflation, which excludes highly volatile items such as some foods, fuels, regulated prices, transport, alcoholic drinks and tobacco, rose 0.40% from July. Its annual rate stood at 4.76%, remaining within the monetary authority’s target range.