Inflation Ecuador 2023
Average inflation: 2.2%
Current Inflation
Inflation is normal at 2.2%, around the ECB target.
Peak and Trough
The highest inflation was in January at 3.1%. The lowest inflation was in December at 1.4%.
- Highest month
- January: 3.1%
- Lowest month
- December: 1.4%
- Difference
- 1.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 5.6%. The lowest price increase was in Energy with an average of 1.0%.
- Highest increase
- Food: 5.6%
- Lowest increase
- Energy: 1.0%
Historical Context
Current inflation is 1.0% higher than the 5-year average of 1.2%.
- 5-year average
- 1.2%
- 10-year average
- 1.5%
- All-time high (2008)
- 8.4%
- All-time low (2020)
- -0.3%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -1.3 percentage point.
- Change vs. previous year
- -1.3 percentage points
- Largest monthly swing
- June: -2.5 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 3.1% | +0.5 |
| February | 2.9% | +0.2 |
| March | 2.8% | +0.2 |
| April | 2.4% | -0.5 |
| May | 2.0% | -1.4 |
| June | 1.7% | -2.5 |
| July | 2.1% | -1.8 |
| August | 2.6% | -1.2 |
| September | 2.2% | -1.9 |
| October | 1.9% | -2.1 |
| November | 1.5% | -2.1 |
| December | 1.4% | -2.3 |
| Average | 2.2% |
Data source
Data from WorldBank. Last updated: 06/01/2026.