Ecuador: Inflation slows in January and reaches an over ten-year low in January
February 8, 2017
In January, consumer prices increased 0.1% over the previous month, just under December’s 0.2% increase. The result mainly reflected increases in prices for food and non-alcoholic beverages, which partially offset a decline in recreation and culture prices.
Inflation was 0.9% in January, falling from 1.1% in December. It has been decelerating for over a year and a half and now rests at the lowest level in over a decade. Subdued demand, still-low global oil prices and a dollarized economy have all weighed on consumer prices. Annual average inflation dropped to a record low of 1.6% in January from 1.7% in December.
Author: David Ampudia, Economist