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Ecuador inflation plummets in June

Staff Writer |
In June, consumer prices fell 0.6% over the previous month, contrasting May’s 0.1% increase. The result reflected drops in prices for culture and recreation.

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Inflation fell from 1.1% in May to 0.2% in June. Inflation has decelerated for over a year and a half and now rests at its lowest level in over a decade.

Subdued demand, still-low global oil prices and a dollarized economy have all weighed on consumer prices. Annual average inflation was fell from 1.2% in May to 1.1% in June.

Panelists participating in the LatinFocus Consensus Forecast foresee inflation at 1.4% at the end of 2017, which is unchanged from last month’s estimate. In 2018, participants expect inflation of 1.9%.

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