Ecuador’s Consumer Price Index (CPI) returned to growth in July after falling back in June to its lowest figure since October 2021 and stood at 2.07% year-on-year, three tenths more than in the previous month.
“Ecuador’s monthly inflation has climbed from 0.37% registered in June to 0.54%, less than two tenths above, although it is the highest figure in the last twelve months. Instead, the cumulative rate for the year was 1.41%,” the National Institute of Statistics and Census (INEC) said.
However, since February of this year, year-on-year inflation in Ecuador has already accumulated four months below 3%, and Ecuador continues to position itself as one of the countries with the lowest index in the region.
Unlike other Latin American countries, Ecuador’s CPI has remained at relatively low levels, reaching its peak in June 2022, when it climbed to 4.2% year-on-year.
Only two of the twelve consumer divisions had monthly reductions, while the other ten grew. Food and non-alcoholic drinks (0.42% per month) and furniture and household items (0.05%) had the largest monthly increases. However, none of the declines were greater than 0.1%.
