Inflation hits seven-month high in June

Latest reading: Inflation jumped to 1.5% in June from May’s 0.5%, marking the highest inflation rate since November 2024. The spike follows the rollback of energy subsidies introduced by President Daniel Noboa amid last year’s power crisis. Looking at the details of the release, housing and utilities costs skyrocketed, and food costs rose at a faster clip. That said, transport costs continued to decline, offering a partial offset. As a consequence, the trend remained unchanged, with annual average inflation remaining at May's 0.8% in June. Finally, consumer prices rose 0.06% over the previous month in June, a smaller increase than the 1.03% rise recorded in May. June's result marked the weakest reading since January.

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