Ecuador Inflation August 2022

Ecuador

Ecuador: Inflation falls to lowest level since May in August

September 6, 2022

Inflation came in at 3.8% in August, which was down from July’s 3.9%. August's reading represented the lowest inflation rate since May. Looking at the details of the release, clothing and footwear prices fell at a quicker pace in August compared to the previous month, while price pressures for food and non-alcoholic beverages eased.

Annual average inflation rose to 2.7% in August (July: 2.5%).

Lastly, consumer prices increased 0.03% in August over the previous month, which was below the 0.16% rise seen in July. August's result marked the weakest reading since September 2021.

FocusEconomics panelists project GDP to expand 2.7% in 2022, which is down 0.1 percentage points from last month’s forecast. In 2023, the panel sees GDP growth moderating to 2.4%.


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Ecuador Inflation August 2022

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


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