Mountains in Ecuador

Ecuador Inflation

Ecuador Inflation

Inflation in Ecuador

Consumer price inflation in Ecuador averaged 1.6% in the ten years to 2022, below the Latin America regional average of 8.4%. The 2022 average figure was 3.5%. For more inflation information, visit our dedicated page.

Ecuador Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Ecuador from 2013 to 2022.
Source: INEC Ecuador.

Ecuador Inflation Data

2018 2019 2020 2021 2022
Inflation (CPI, ann. var. %, aop) -0.2 0.3 -0.3 0.1 3.5
Inflation (CPI, ann. var. %, eop) 0.3 -0.1 -0.9 1.9 3.7

Inflation drops to lowest level since June in October

Inflation fell to 1.9% in October, from September’s 2.2%. October's figure marked the weakest inflation rate since June. Looking at the details of the release, prices for transportation rose at a faster pace in October. In contrast, prices for food and non-alcoholic beverages grew at a softer pace. Meanwhile, clothing and footwear prices were largely unchanged. Moreover, prices for restaurants and hotels grew at a more subdued pace. Annual average inflation ticked down to 2.6% in October (September: 2.8%). Finally, consumer prices dropped 0.18% in October over the previous month, contrasting the 0.04% increase logged in September. October's result marked the weakest reading since June 2021.

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 14 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.

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