Ecuador Inflation May 2021

Ecuador

Ecuador: Consumer prices fall at weaker rate in May

June 4, 2021

Consumer prices rose 0.08% over the previous month in May, moderating from the 0.35% print in April. May’s softer increase in prices was largely attributed to easing price pressures for transportation.

Meanwhile, consumer prices declined 1.1% in annual terms in May, above April’s 1.5% drop. Meanwhile, the annual average variation in consumer prices deteriorated, coming at minus 0.9% in May, following April’s minus 0.7%.

Commenting on the outlook for inflation, analysts at EIU, said:

“Although we expect inflation to return in 2021, consumer prices pressures will be extremely weak. We forecast that inflation will end the year at just 0.4%, reflecting a weak recovery in domestic demand. [...] Dollarisation will play a major role in containing inflation, but the economy will remain vulnerable to food and energy price shocks.”

FocusEconomics panelists project inflation to end 2021 at 0.9%, which is unchanged from last month’s estimate and at 1.1% in 2022.


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Ecuador Inflation May 2021 0

Note: Annual and monthly variation of consumer price index in %.
Source: National Statistical Institute.


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