Ecuador closed 2018 with inflation of 0.27%

Ecuadornews:

According to the report of the National Institute of Statistics and Census (INEC), 2018 ended with an annual inflation of 0.27%.

The publication circulated this Monday, January 7 shows a recovery against December 2017 when it stood at -0.20%. The monthly inflation of December 2018 was 0.10%, while in November it was -0.25%.

The cities of the Coast showed positive monthly variations (0.23%) greater than the cities of the Sierra (-0.05%). The highest were Guayaquil, Cuenca, Manta and Machala. The sectors that contributed most to the consumer price movement in the twelfth month of last year were recreation and culture (0.053%); transport (0.039%); and various goods and services (0.026%).

While negative variations were registered in the food and non-alcoholic beverages sectors (-0.02%); restaurants and hotels (-0.01%); and clothing and footwear (-0.004%).

The cost of the basic family basket (CFB) with 75 products was $ 715.16 and the average monthly family income of a four-member household with 1.6 recipients of a basic salary was $ 720.53.

This represents a 100.75% coverage of the cost of the CFB. The INEC report indicates that Loja is the most expensive city in the country, with a basic basket of $ 742.13. Cuenca and Quito follow in second and third place.

On the other hand, the vital basket (73 products) cost $ 499.59, that is, there is a surplus of $ 220.94 of the family income. Its cost increased by 0.32% in reference to the previous month.

Regarding the index of intermediation gaps, the cities that showed the greatest change were Quito (34.21%) and Guayaquil (29.41%). When analyzing the values ​​of the annual inflation of the countries of the Andean Community of Nations and the Common Market of the South (Mercosur), the INEC shows that Ecuador is below the average. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/ecuador-cierre-inflacion-2018