Ecuador: Inflation inches up for the second consecutive month in November
December 6, 2018
Consumer prices declined 0.25% over the previous month in November, after a 0.05% month-on-month fall in October. Recreation and culture saw the biggest drop in prices, followed by clothing and footwear. Conversely, prices for accommodation; water, electricity, and gas; along with healthcare recorded higher prices. Meanwhile, education was the only category that registered a flat reading compared to the previous month.
Inflation inched up to 0.4% in November, from 0.3% in October. Consumer prices returned to growth for the first time in over a year in September, mainly owing to the upturn in oil prices, but inflation remains subdued owing to the dollarization of the economy. Meanwhile, the annual average variation in consumer prices remained at minus 0.3% in November, matching October’s print.
Author: Nihad Ahmed, Economist