Ecuador: Inflation drops to 17-month low in October
November 9, 2015
In October, consumer prices fell 0.09% over the previous month, which contrasted September’s 0.26% increase and marked the lowest reading in over two years. Food and non-alcoholic beverages saw the largest monthly price decrease, followed by clothing and footwear. The strong USD, which the country has adopted as its currency, has pushed down the price for imported goods, leading to a downward trend in consumer price growth.
Inflation dropped from 3.8% in September to 3.5% in October, the lowest reading since May 2014. Annual average inflation inched down to 4.0% in October from 4.1% in September.
Author: Robert Hill, Economist