Ecuador: Consumer prices on an annual basis continue on downward trend in June
July 6, 2018
Consumer prices declined 0.27% over the previous month in June, marking a bigger drop than the revised 0.18% month-on-month fall in May. Half of the twelve sub-components recorded lower prices, two registered a flat reading, while the remaining four saw an upturn in prices. Food and non-alcoholic beverages listed the biggest drop in prices, while prices for health increased the most. Meanwhile, prices for alcoholic drinks and tobacco, along with education came in flat from the previous month.
On an annual basis, consumer prices dropped 0.7% in June, marking a smaller drop than the 1.0% decline recorded in May. Annual variation in consumer prices fell 0.3% in June, after a 0.2% drop in May.
Ecuador Inflation Forecast
Panelists participating in the LatinFocus Consensus Forecast expect inflation of 1.3% in 2018, which is unchanged from last month’s estimate. The panel projects inflation accelerating to 1.9% at the end of 2019.
Author: Nihad Ahmed, Economist