Ecuador records negative inflation for 11 consecutive months

Ecuadornews:

Year-on-year inflation from September 2017 to July 2018 has registered negative variations.

The Consumer Price Index (CPI) of Ecuador recorded a variation of -0.004 percent in July, while that of the same month last year had been placed at 0.14 percent, reported the National Institute of Statistics and Census ( INEC).

Year-on-year inflation (July 2017-July 2018) reached -0.57 and the one accumulated in the first seven months of this year stood at -0.19 percent, the Institute said in a newsletter.

The monthly variations of prices with negative sign of the sections of “recreation and culture” and the one of “diverse goods and services” are those that contributed more to the variation of the CPI in July with values of -1.20 percent and -0 , 14 percent, respectively.

The cities of Esmeraldas (-0.39%) and Guayaquil (-0.08%) were the ones that registered the greatest contribution to the negative variation of the indicator and, in the analysis by regions, the INEC indicated that the cities of the coastal zone (-0.05%) showed a lower variation than those of the Andean highlands (0.05%). On the other hand, the INEC report indicates that the cost of the basic family basket was $ 707.54 in July, while the average family income was $ 720.53. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/inflacion-ecuador-julio2018