Seven months later, since last February, the price of fuel led the products that had the most impact on inflation for the last time, and in September, the item was again the one that had the most impact on the Consumer Price Index (CPI) with 0 . 0420%, in the case of high-octane petrol, within the Transport division, which was also first, with 0.0502%, within the twelve sections of consumption taken into account by the National Institute of Statistics and Censuses (INEC) for the calculation, by which the monthly inflation in in September was 0.04 percent compared to August this year.

On the other hand, the annual inflation compared to September 2022 was 2.23 percent, while the accumulated inflation calculated with that of December of the previous year was 1.96 percent.

Food and gasoline again record inflation, which reached 0.50% in August 2023

Low-octane fuel was the third product with the greatest impact in the Transportation division with 0.0034%, behind urban transportation (0.0145%).

In that month, the price of gasoline at the free price increased in parallel with the increase in the international price of crude oil. The benchmark price for super gasoline was $4.33 a gallon, up 13 cents from the August benchmark of $4.20. Ecoplús 89 gasoline, which also has a published price, rose 9 cents that month, from $3.39 to $3.48 a gallon. These values ​​were in effect between September 12 and October 11, 2023.

According to INEC, the Transport division consists of 23 products and represents 14.74% of the weight of the CPI basket.

Meanwhile, the other two sections that had the biggest impact on monthly inflation in September 2023 were Miscellaneous Goods and Services (0.0191%); and Health (0.0116%).

As a novelty, the Food and Non-Alcoholic Beverages division, which in the past 7 months had a leading role as the one that most influenced inflation, this time had the least impact on the calculation with -0.0212%, placing it in last place out of 12 division.

Food makes up 32.03% of products in the CPI basket and represents 22.45% of the weighting of the index. This division is sensitive to price changes due to climatic phenomena, seasonal production, among others.

Petroecuador proposes price of $4.33 for super gasoline in September: 13 cents higher than last month

Meanwhile, when analyzing the structure of monthly price variation by region, coastal cities (0.09%) showed higher monthly variations than Sierra cities (-0.02%). Similarly, coastal cities (2.89%) showed greater annual variation than those in the Sierra (1.50%).

On the other hand, according to the INEC report, the basic family basket in September 2023 cost $782.34; which implies that the average family income ($840) covers 107.37% of the total costs of the basic family basket. The price of the basic basket is lower by -0.40% compared to the previous month.