Ecuador: Inflation eases to over 11-year low in November
December 6, 2016
In November, consumer prices decreased 0.15% from the previous month, which was slightly below October’s 0.08% fall. The decline was broad-based and mainly reflected drops in prices for food products and non-alcoholic beverages, furniture and restaurants and hotels.
Inflation came in at 1.1% in November, which was down a notch from October’s 1.3% and marked the softest figure since March 2005. The inflation rate has been declining consistently for a year and a half on the back of lukewarm demand and subdued global oil prices. The dollarization of the economy has also kept prices in check, due to the current strength of the U.S. dollar against most currencies. Meanwhile, the annual average variation in consumer prices dropped to a multi-year low of 1.9% in November from 2.1% in October.
Author: David Ampudia, Economist