Ecuador Inflation January 2016

Ecuador

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.

Panelists participating in the LatinFocus Consensus Forecast foresee inflation at 3.2% at the end of 2016, which is down 0.1 percentage points from last month’s estimate. In 2017, participants expect inflation to decrease to 2.7%.


Author:, Economist

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Ecuador Inflation January 2016

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


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