Ecuador: Inflation ends year in line with Central Bank?s expectations
January 6, 2011
In December, consumer prices increased 0.51% over the previous month, which almost doubled the 0.27% increase recorded in November. Higher prices for food and alcoholic beverages, which rose 1.01% over November, as well as for clothing, which rose at the same 1.01% clip, were the main drivers behind the monthly price rise. Despite the monthly increase, annual headline inflation inched down from November's 3.4% to 3.3% in December. The result was in line with Central Bank expectations that inflation would end the year at 3.4%. Annual average inflation remained unchanged at November's 3.6%. Consensus Forecast panellists see inflation at -.-% by the end of 2011, which is down 0.1 percentage points from last month's estimate. Next year, participants estimate inflation to reach 3.5%.
Author: Armando Ciccarelli, Head of Data Solutions