Life in Ecuador is more expensive, this is the citizen and business perception. But it is also what the figures of the World Bank reveal. Prices have risen in Ecuador more than double as in the United States almost every year for the past seven years.
Only in 2011 and 2013 the rise in the Consumer Price Index (CPI) does not reach the double, although it is higher than that of the country that issues the currency of Ecuador.
This is because, analysts agree, the liquidity that entered to the state coffers as oil revenues. The oil boom came with large public investments, salary increases and increased purchasing capacity of Ecuadorians, according to economist and editor of Economic Analysis, Alberto Acosta Burneo. “Prices are rising every year. They increase faster than in the US, although they now rise more slowly,” he explains.