Ecuador: Inflation hits joint-two-year high in April
Latest reading: Consumer prices rose 2.6% on a year-on-year basis in April, following a 2.3% rise in the previous month. April’s reading was the joint-strongest in two years.
Relative to the previous month’s data, there were higher price pressures for transportation (+3.2% on a year-on-year basis vs +0.1% in March), food and non-alcoholic beverages (+0.3% vs 0.0% in March), restaurants and hotels (+1.4% vs +1.3% in March) and communication (+0.7% vs +0.4% in March). In contrast, price pressures reduced for housing and utilities in April (+17.3% vs +24.9% in March).
Lastly, consumer prices were up 0.53% in April in month-on-month terms, following a 0.12% increase in the previous month.