Ecuador: Inflation hits a 20-month high in January
Latest reading: Consumer prices increased 2.4% on a year-on-year basis in January, following a 1.9% increase in the prior month. January’s reading was the strongest since May 2024, driven by unfavorable base effects related to electricity subsidies in the prior year.
Relative to the prior month’s figures, there were higher price pressures for food and non-alcoholic beverages (+2.1% on a year-on-year basis vs +1.3% in December), clothing and footwear (-4.9% vs -5.3% in December) and communication (-0.3% vs -1.2% in December). In contrast, price pressures reduced for transportation in January (+0.1% vs +0.9% in December). Finally, the variation in restaurant and hotel prices was the same as in the prior month (+1.5% in January and December).
Lastly, consumer prices rose 0.37% in January on a month-on-month basis, following a 0.14% decline in the previous month.