Mountains in Ecuador

Ecuador Inflation May 2023

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

Inflation came in at 2.0% in May, which was down from April’s 2.4%. May’s result represented the lowest inflation rate since December 2021. Looking at the details of the release, prices for transportation declined in May and prices for food and non-alcoholic beverages grew at a slower rate. Moreover, prices for restaurants and hotels grew at a more subdued pace. Meanwhile, clothing and footwear prices fell at a quicker rate.

In addition, the trend pointed down slightly, with annual average inflation coming in at 3.4% in May (April: 3.5%).

Finally, consumer prices increased 0.09% from the previous month in May, a smaller increase than April’s 0.20% increase.

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