Weekly Report - 19 January 2023 (WR-23-03)

DOMINICAN REPUBLIC | Bringing inflation to heel. Annual inflation in the Dominican Republic in 2022 reached 7.83%. This is higher than the central bank target of 4% plus or minus one percentage point, but inflation is expected to be brought within this range in 2023. There are already signs that inflation is coming down. It peaked at 9.64% in April.
        As with most countries in the region, and beyond food prices were the main driver of inflation at 11.19%, although this is low by regional standards. The central bank praised the government’s support for agricultural production and subsidies for fuel and electricity tariffs.