Ecuador Inflation May 2016


Ecuador: Inflation falls to over-nine-year low in May

June 6, 2016

In May, consumer prices were almost unchanged over the over the previous month, rising only 0.03%. The print came in below April’s 0.31% increase. May’s print mainly reflects that higher prices for alcoholic beverages, tobacco, food and non-alcoholic beverages were largely offset by lower prices for clothing, footwear, culture and recreation. The fairly-strong USD, which the country has adopted as its currency, has pushed down the price for imported goods and keeps inflationary pressures muted.

Inflation has been falling steadily since June 2015 and dropped from 1.8% in April to 1.6% in May, the lowest reading since May 2007. The annual average variation in consumer prices edged down to 3.2% in May from 3.5% in April.

Panelists participating in the LatinFocus Consensus Forecast foresee inflation at 2.9% at the end of 2016, which is unchanged from last month’s estimate. In 2017, participants expect inflation of 2.9%.

Author: Teresa Kersting, Economist

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Ecuador Inflation Chart

Ecuador Inflation May 2016

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

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