Fresh chicken, avocados, eggs and garlic: the products that fell in price according to the Central Bank

In its report on the behavior of prices during October, the Central Bank (BCRD) reported that the value of some products have fallen in the Dominican market, such as chicken, avocado, eggs and garlic.

Fresh chicken fell by 2.82% last October, in relation to the price that was purchased in September of this year, while avocado prices also fell by 5.14%, egg prices by 1.01% and the garlic by 4.16%.

“It is important to highlight that the high incidence of the negative variation in the price of chicken contributed to lower inflation of the CPI of the Food and Alcoholic Beverages group in the month of October 2022”, it says in its report in which it explains that inflation is has moderated and in October closed 0.28% more than September, although below 0.30% during the last three months.

In the first ten months of the year (January-October 2022), accumulated inflation stood at 6.31%.

those who climbed

Health insurance prices rose (5.75%), personal care services (0.75%), personal care items (0.79%) and events (3.56%).

Others that rose were green plantains (3.83%), green pigeon peas (8.78%), tomatoes (10.59%), peppers (5.63%), sweet potatoes (7.53%), yautia (7.28%), ripe plantains (3.47%), pork (0.91%), soft drinks (0.77%), potatoes (2.54%) and chicken broth (1.09%).

As price increases were also recorded in food services prepared outside the home such as dish of the day (0.39%), chicken service (0.68%), food service with accompaniment (0.21%), empanadas (0.86%), sandwiches (0.51%) and juice served outside the home (0.65%).

The groups that contributed the most to inflation in October were Miscellaneous Goods and Services, growing 0.90%, Food and Non-Alcoholic Beverages (0.29%), Restaurants and Hotels (0.46%), Transportation (0.17%), Housing (0.20%) and Furniture and Household Items (0.41%).

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YoY at 8.24%

Year-on-year inflation, from October 2021 to October 2022, “maintains a downward trajectory, standing at 8.24% in October, a drop of 140 basis points compared to the peak of 9.64% observed in April of this year, so Inflation is forecast to be around 7% at the end of 2022.”

Given this downward trend, the BCRD projects that inflation would be in the target range of 4% ± 1% before the end of the second quarter of next year 2023, as a result of the measures adopted to mitigate price growth, due to subsidies to fuels, the pause in electricity rate adjustments, and initiatives to reduce production costs in agriculture.

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