Ecuador Inflation June 2016

Ecuador

Ecuador: Inflation rests at over-nine-year low in June

July 6, 2016

In June, consumer prices rose 0.36% over the over the previous month. The print exceeded May’s marginal 0.03% increase. June’s print mainly reflected higher prices for alcoholic beverages and tobacco. The fairly-strong USD, which the country has adopted as its currency, has pushed down the price for imported goods and is keeping inflationary pressures muted.

Inflation has been falling steadily since June 2015 and remained at May’s 1.6% in June, which marked the lowest reading since May 2007. The annual average variation in consumer prices edged down to 3.0% in June from 3.2% in May.

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 June 2016 0

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


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