Inflation is once again negative, mainly driven by the price of food. According to the report of the National Bureau of Statistics and Population Census (INEC), this indicator was -0.40 percent at the national level in November, -0.18 percent in October, while it was -0.01 percent in November last year. .
Accumulated inflation from January to November 2023 was 1.37 percent, while in the previous month it was 1.78 percent, while in November 2022 it was 3.57 percent.
After ten months, inflation in Ecuador is again negative
On the other hand, annual price inflation in November 2023 was 1.53%, compared to annual inflation in November 2022 of 3.64%.
According to INEC, the Consumer Price Index (CPI) basket, which is made up of 12 consumer sections, has three of the biggest impacts on monthly inflation: Food and non-alcoholic beverages with -0.2603%; various goods and services with -0.0491%) and clothing and footwear with -0.0348%.
In the Food and Non-Alcoholic Beverages section, which consists of 115 products and represents 22.45% of the CPI basket, INEC details the list of products that affected the monthly inflation. They were:
These are the products with the greatest impact on goods and services, a group consisting of 36 products and representing 9.86% of the weighting of the CPI basket:
Products with the highest representation in clothing and footwear:
July’s monthly inflation of 0.54 percent was the highest in 10 years, driven by food prices such as rice
On the other hand, the basic family basket, which consists of 75 products, cost $784.65 in November. This represents an increase of 0.08% from the previous month, which was $784.02.
Meanwhile, the value of the vital basket, which contains 73 products, increased by one cent and now stands at $552.02.
The cities that showed a monthly variation lower than the national monthly variation are: Loja, Manta, Machala and Guayaquil. On the other hand, the cities with the highest annual variation were: Santo Domingo, Guayaquil, Manta and Esmeraldas, above the national annual variation.
Source: Eluniverso
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