Ecuador Inflation December 2016

Ecuador

Ecuador: Inflation closes year steady at over 11-year low

January 6, 2017

In December, consumer prices increased 0.16% over the previous month, contrasting November’s 0.15% decrease. The result mainly reflected increases in prices for recreation and culture, food and non-alcoholic beverages, which more than offset a sizeable decline in clothing and footwear prices.

Inflation was stable in December at November’s 1.1% reading. It has been decelerating for over a year and a half and now rests at the lowest level since March 2005. Subdued demand, still-low global oil prices and a dollarized economy have all weighed on consumer prices. The annual average variation in consumer prices dropped to a record low of 1.7% in December from 1.9% in November.

Panelists participating in the LatinFocus Consensus Forecast foresee inflation at 1.9% at the end of 2017, which is down 0.1 percentage points from last month’s estimate. In 2018, participants expect inflation of 2.5%.


Author:, Economist

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Ecuador Inflation Chart


Ecuador Inflation December 2016

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


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