March inflation stood at 0.44%

Roberto Villacreces

The inflation of March stood at 0.44%, and food and beverages were part of the group that contributed most to inflation. While in 2012, in the same month the inflation was 0.90%, as reported yesterday by the National Institute of Statistics and Census (INEC).

Other items that influenced on prices were related to restaurants and hotels, clothing and footwear. The INEC said that food and beverages accounted for 46.18% of inflation, while hotels and restaurants, the 19.80%, clothing and footwear, 14.01%.

The research associate of the Ecuadorian Institute of Political Economy, Roberto Villacreces said that the inflation corresponds to values that citizens are accustomed to pay since the dollar was adopted as the official currency. “What we’re seeing is that more or less the prices are tending to grow, but not in such high volumes as it was in other times, when he raised taxes and trade restrictions,” he said.