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Ecuador’s annual inflation fell below zero
Posted On 06 Oct 2017
Ecuadornews:
Annual inflation in Ecuador was -0.03% last September. This is the first time since 1970 that this indicator measured by the National Institute of Statistics and Censuses (INEC) is negative. Food and non-alcoholic beverages, clothing, furniture and household goods, communications and alcoholic beverages categories affected the result of this index, which reflects the behavior of prices between September 2016 and last month.
Meanwhile, monthly inflation in September was -0.15%, the lowest since 1979 when compared to the same months, according to the INEC report.
According to analyst Alberto Acosta Burneo, the national economy is going through a period of price adjustment, after a period of oil prosperity and indebtedness, in which investment and consumption rose.
“Because of this growing demand, prices grew faster than in the United States and other countries. We became a very expensive country.”
The forecast is that this reduction will continue, which favors consumers and, in the future, entrepreneurs, who will regain competitiveness vis-à-vis other countries. The dollar has been strengthening since the middle of 2015, which had put the country at a disadvantage. (I)
Source: http://www.elcomercio.com/
