Ecuador Inflation Accelerates the Most in 20 Months

Ecuador’s annual inflation accelerated to 2.44% in January 2026 from 1.91% in December, the sharpest rise since May 2024. The largest increases were recorded in housing and utilities (20.79%), healthcare (3.13%), alcoholic beverages and tobacco (1.43%), restaurants and hotels (1.47%), and food and non-alcoholic beverages (2.09%). Deflation was recorded in clothing and footwear (-4.89%), recreation and culture (-2.54%), and communications (-0.28%). On a monthly basis, consumer prices rose 0.37% in January, following a 0.14% decline in December.

Ecuador’s annual inflation accelerated to 1.91% in December 2025 from 1.05% in November. The largest increases were recorded in housing and utilities (16.97%), healthcare (2.95%), alcoholic beverages and tobacco (1.69%), restaurants and hotels (1.50%), and food and non-alcoholic beverages (1.30%). Deflation was recorded in clothing and footwear (-5.29%), recreation and culture (-2.77%), and communications (-1.19%). On a monthly basis, consumer prices fell 0.14% in December, following a 0.44% decline in November.

Ecuador’s annual inflation rate eased to 1.05% in November 2025, from the highest since June of 1.24% in October. Year-on-year increases were stronger for alcoholic beverages & tobacco (2.03% vs 1.53% in October), transport (1.38% vs 1.13%), restaurants & hotels (1.62% vs 1.57%), and furniture & household articles (0.62% vs 0.58%), while education was unchanged at 0.65%. By contrast, inflation slowed for food & non-alcoholic beverages (1.80% vs 1.99%), housing & utilities (1.51% vs 3.33%) and healthcare (2.04% vs 2.32%), and prices fell further for clothing & footwear (-5.00% vs -4.42%) and communications (-1.15% vs -0.86%). On a monthly basis, consumer prices fell 0.44% in November, after a 0.40% rise in October.