Inflation turned negative again

The Institute of Statistics and Censuses (INEC) reported today that during the month of July, the consumer  price index  (IPC, for its Spanish acronym) was – 0.02%, also, the variation in the past 12 months was 2.39% and the accumulated in the nine first months of the year stood at 0.92%.

Food and non-alcoholic beverages had a variation of – 0.54%, and were those who contributed most in the monthly variation.

Quito was the most expensive city, while Manta contributed the most to the decline in the monthly index.

The value of the basic family basket stood at $606,48, while family income (1.6 recipients) in $593,60, representing a  coverage of 98%.