Ecuador: Inflation climbs to highest level in more than two years
October 7, 2011
In September, consumer prices added 0.79% over the previous month, which was well above the 0.49% increase observed in August. According to Statistics Institute, the monthly rise reflected higher prices for food and beverages as well as for education. As a result of the monthly jump, annual headline inflation climbed from 4.9% in August to 5.4% in September, which marked the highest inflation since April 2009. The Finance Ministry expects inflation to reach 4.13% this year. Meanwhile, the Central Bank sees inflation ending the year at 3.7%.
Author: Ricardo Aceves, Senior Economist