Ecuador: Inflation moderates in January
February 4, 2016
In January, consumer prices rose 0.31% over the previous month, which was a bigger change compared to December’s 0.09% increase. The restaurants and hotels component of the index saw the biggest gains in December, while prices for clothing fell substantially. The strong USD, which the country has adopted as its currency, has pushed down the price for imported goods, limiting inflationary pressures.
Inflation was 3.1% in January, the lowest reading since February 2014 and down from the 3.4% recorded in December. Annual average variation in consumer prices inched down to 3.9% in January, from 4.0% in December.
Author: Robert Hill, Economist