Inflation in Ecuador falls back and reaches 3.64% in November 2022

Ecuador’s National Institute of Statistics and Censuses (INEC) presented the new report on the Consumer Price Index, in which year-on-year inflation reached 3.64%, compared to 1.84% in November 2021, and while that of October had reached 4.02%.

The entity pointed out that in November inflation was -0.01%, compared to October when it was 0.12%, and when in November 2021 it was 0.36%.

Read also: Check out our coverage on Ecuador

“In the CPI basket there are twelve consumer divisions. The three divisions that most affected monthly inflation in November 2022 are the following: clothing and footwear (-0.0225%); Health (-0.0123%); and, Transport (-0.0097%)”, highlighted the entity in its official bulletin.

Regarding accumulated inflation, between January and November it was 3.57%.

In addition, it was noted in the report that the monthly CPI inflation of the Food and Non-Alcoholic Beverages (Food) group in November 2022 was 0.14% and in November of the previous year it was -0.05%. On the other hand, monthly CPI inflation for the rest of the products (Non-Food) reached a value of -0.05%.

THE COST OF THE BASIC BASKET

On the other hand, the INEC presented the cost of the Basic Family Basket (CFB) in November 2022, which was US$761.14, while the monthly family income of a typical household was US$793.33, which represents 104.23% of the cost of the CFB.

“The value of the Basic Family Basket in the Sierra region is US$777.20, that of the Coast is US$745.08, Quito being the most expensive city with a basic basket of US$791.48,” the entity added. .

In addition, it was detailed that the Vital Basket had a cost of US$538.39, generating a surplus of US$254.94 of family income. The cost of the vital basket increased by 0.87% in reference to the cost of the previous month.

With information from Bloomberg Línea

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