The increase brought the gain in prices in the past year to 4.77 percent, the National Statistics and Census Institute said in a report on its website. The inflation rate decreased from 4.94 percent the previous month.
Prices are forecast to gain an average 5.14 percent this year compared with 4.47 percent in 2011, according to the Finance Ministry’s 2012 budget. The economy may expand 4.8 percent this year, the central bank said in July, less than the 5.35 percent originally estimated in the 2012 budget.
To contact the reporter on this story: Nathan Gill in Quito at email@example.com.