Ecuador: Inflation steady in October
November 9, 2016
In October, consumer prices decreased 0.08% over the previous month, contrasting September’s 0.15% increase. The result mainly reflected decreases in prices for food products and non-alcoholic beverages, communication and clothing, which more than offset timid increases in transportation and electricity prices.
Inflation was stable in October at September’s 1.3% reading, putting an end to a year and a half of uninterrupted declines in the inflation rate. Inflation is now at the lowest level since April 2005. Lukewarm demand and low global oil prices have weighed on consumer prices, while a dollarized economy has also kept prices in check. The annual average variation in consumer prices dropped to a multi-year low of 2.1% in October from 2.3% in September.
Author: David Ampudia, Economist