Ecuador Inflation was of 0.17% in August

Basic basquet in Ecuador gets more expensive

Ecuador’s inflation stood at 0.17% in August, compared to 0.29% in the same month but in the previous year. According to the latest report of the Consumer Price Index (CPI) published by the National Institute of Statistics and Census (INEC), which clarifies that in the eighth month of the year, annual inflation reached 2.27%, while the cumulative rate was of 1.10%.

In August 2012, Ecuador’s annual inflation was of 4.88% and 2.97% cumulative.

This monthly variation was due to the division of food and non-alcoholic beverages, which was perceived as a major contributor to the monthly CPI with 51.22%, followed by hotels and restaurants with 24.14%.

The cities that recorded higher inflation, according to the report, is Manta with 0.60% followed by 0.54% Ambato. While Cuenca is the city with less inflation, it has -0.41%.

It is emphasized that the basic basket stood at $ 609.5, while household income is $ 593.6. In August 2012, the pack was of $ 587.86 with a household income of $ 545.07.