Ecuador: Consumer prices on an annual basis fall by smaller magnitude in July
August 6, 2018
Consumer prices came in flat over the previous month in July, contrasting a 0.27% month-on-month decline in June. Five out of the 12 sub-components recorded a decline in prices, while six registered an upturn. The remaining category, education, came in flat from the previous month. Prices for recreation and culture fell the most, while those for transport rose by the largest magnitude.
On an annual basis, consumer prices dropped 0.6% in July, marking a smaller drop than the 0.7% year-on-year decline recorded in June. Annual variation in consumer prices fell 0.3% in July, mirroring June’s result.
Ecuador Inflation Forecast
Panelists participating in the LatinFocus Consensus Forecast expect inflation of 0.8% in 2018, which is down 0.2 percentage points from last month’s estimate. The panel projects inflation accelerating to 1.7% at the end of 2019.
Author: Nihad Ahmed, Economist