Ecuador: Consumer prices on an annual basis drop by bigger magnitude in May
June 6, 2018
Consumer prices dropped 0.18% over the previous month in May, a slightly bigger decline than the 0.14% month-on-month fall in April. Half of the twelve sub-components registered lower prices, while the other half recorded higher prices. Prices for food and non-alcoholic beverages dropped the most, while prices for accommodation, water, electricity and gas rose by the biggest magnitude.
Consumer prices dropped 1.0% over the same month of the previous year in May, marking a greater drop than the 0.8% decline recorded in April and a record multi-year drop. Annual average inflation fell 0.2% in May, contrasting a flat reading in April.
Author: Nihad Ahmed, Economist