Ecuador Inflation August 2016

Ecuador

Ecuador: Consumer prices fall further in August

September 6, 2016

In August, consumer prices fell 0.16% over the previous month, the lowest reading in over three years. The print was below July’s 0.09% decrease and mainly reflected lower prices for food and non-alcoholic beverages, clothing and transport.

Inflation has been falling steadily since June 2015 and came in at 1.4% in August. The figure was below July’s 1.6% reading and marked the lowest level of inflation since April 2007. Consumer prices have deteriorated as a consequence of subdued demand and oil prices, while a strong base effect caused by the import tariffs introduced in March 2015 has also weighed on price growth. The annual average variation in consumer prices edged down to an over-eight-year low of 2.5% in August from 2.7% in July.

Panelists participating in the LatinFocus Consensus Forecast foresee inflation at 2.3% at the end of 2016, which is down 0.4 percentage points from last month’s estimate. In 2017, participants expect inflation of 2.8%.


Author:, Economist

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Ecuador Inflation August 2016 0

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


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