Inflation ebbs in September from August

Latest reading: Consumer prices rose 0.7% on a year-on-year basis in September, following a 0.8% rise in the previous month. Relative to the prior month's figures, there were milder price pressures for food and non-alcoholic beverages (+0.6% on a year-on-year basis vs +1.2% in August), clothing and footwear (-4.3% vs -4.0% in August) and restaurants and hotels (+1.2% vs +1.3% in August). In contrast, there were more notable price pressures for transportation (+0.1% vs -0.8% in August) and communication (-0.2% vs -0.3% in August). Lastly, consumer prices were up 0.08% in September on a month-on-month basis, following a 0.31% increase in the prior month.

Panelist insight: Commenting on the outlook, Sergio Armella, economist at Goldman Sachs, stated: “Diesel prices remained unchanged for a long time, and the higher prices observed since September are expected to contribute to some inflationary pressures next month too. Over the coming months annual inflation will face headwinds from adverse base effects.”

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 17 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 info@focus-economics.com.