Latest reading: Inflation climbed to 11.8% in June from May’s 11.3%, marking the joint-highest rate since August 2023. The reading...
Inflation in Ecuador
Consumer price inflation in Ecuador averaged 3.6% in the ten years to 2024, in line with the Latin America regional average of 3.6%. The 2024 average figure was 1.5%. For more information on inflation, visit our dedicated page
Ecuador Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Ecuador from 2024 to 2014.
Source: Macrobond.
Ecuador Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | -0.3 | 0.1 | 3.5 | 2.2 | 1.5 |
| Inflation (CPI, ann. var. %, eop) | -0.9 | 1.9 | 3.7 | 1.3 | 0.5 |
Inflation hits highest level since December 2024 in May
Latest reading: Consumer prices rebounded 0.5% in May, after contracting 0.7% year-on-year in April. May's result was the highest inflation rate since December 2024. Looking at the details of the release, prices for food and non-alcoholic beverages rebounded. Moreover, housing and utilities costs rose for the first time in five months, as electricity prices kept rising after subsidies—introduced in December during widespread outages—expired in April. In contrast, prices for transportation plunged in May. The trend pointed down slightly, with annual average inflation coming in at 0.8% in May (April: 1.0%). Lastly, consumer prices rose 1.03% in May over the previous month, accelerating from April's 0.27% increase. May's figure was the highest reading since April 2024.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Ecuadorian inflation projections for the next ten years from a panel of 16 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Ecuadorian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Ecuadorian inflation projections.
Want to get access to the full dataset of Ecuadorian inflation forecasts? Send an email to info@focus-economics.com.
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