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 2014 to 2023.
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 comes in at highest level since November 2023 in January

Inflation edged up to 1.4% in January, above December’s 1.3%. January's figure was the highest inflation rate since November 2023. Looking at the details of the release, prices for transportation fell at a sharper rate in January, while prices for communication and food grew at quicker rates. Annual average inflation edged down to 2.1% in January (December: 2.2%). Lastly, consumer prices increased 0.13% from the previous month in January, contrasting December's 0.02% drop. January's figure marked the highest reading since August 2023.

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.

Want to get access to the full dataset of Ecuadorian inflation forecasts? Send an email to

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