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.
Author: David Ampudia, Economist