Ecuador: Basic family basket of goods for January 2017 is $701.93

eluniverso.com(machine translated) The basic family basket was calculated in January 2017 at $ 701.93. This was reported yesterday by the National Institute of Statistics and Censuses, in its monthly report. According to the institution, monthly family income (which takes into account that the family receives income equivalent to the basic salary multiplied by 1.6 recipients) would reach $ 700. In this sense for the INEC, the coverage of the basic basket is 99 , 72%.

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According to published data, it is the first time in four years that family income is less than the basic basket. In previous years, at least in the first month, that covered the basket slightly above 100%.

The INEC also reported that Ecuador recorded an inflation of 0.09% in the first month of 2017. It is the lowest figure since 2007.

Last year, in January, inflation was at 3.09%. Meanwhile, annual inflation, measured from January 2016 to January 2017, reached 0.90%.

According to INEC data, Cuenca and Ambato are the cities with the highest inflation rate with 0.42% and 0.30%, respectively. Meanwhile, the lowest inflation rates were Esmeraldas with -0.17% and Manta with -0.13%.

In addition, the groups of products that most influenced the increase in inflation were food and beverages, furniture, household goods and health, calculated the INEC – Read Article