Ecuador: Consumer prices continue to decline on an annual basis at the outset of 2018
February 7, 2018
Consumer prices increased 0.19% over the previous month in January, following a 0.18% month-on-month rise in December. Higher prices for furniture and articles for the home, along with food and non-alcoholic beverages led the upturn in prices. The increase was limited from the previous month, however, due to lower prices for education, housing, water, electricity and gas.
Consumer prices, on an annual basis, fell 0.1% in January, following a 0.2% drop in December. The continued decline in prices can be explained by Ecuador’s economy being dollarized operating against the backdrop of a relatively strong U.S. dollar. Annual average inflation inched down from 0.4% in December to 0.3% in January.
Author: Nihad Ahmed, Economist