Ecuador maintains the lowest inflation rate in Latin America
Recent data from Ecuador's National Institute of Statistics and Censuses (INEC) indicate that the country's annual inflation rate was 0.72 % last July, reflecting an annual decrease of 1.32 percentage points
In Latin America, Ecuador maintains the lowest inflation rate in the region. During the month of July, annual inflation stood at 0.72 %, which, according to the National Institute of Statistics and Censuses (INEC), represents a slowdown compared to 1.57 % in the same month in 2024.
According to the local agency, this “represents an annual decrease of 1.32 percentage points.” However, it is important to clarify that “when inflation falls, it is usually interpreted as a sign of stability; the drastic drop in price levels over the last year reflects weak demand and possible economic stagnation.”
Domestically, the Consumer Price Index (CPI) grew only 0.11 percentage points monthly between June and July; a sign of a lack of dynamism in economic activity, reinforced by a drastic drop in prices in “key sectors.”
Service prices continue to rise, as do products in the Basic Family Basket, which comprises 75 items nationwide. In this regard, a comparison is made between the price of the basic basket in July, which was $813.82, and the monthly family salary for the same period, which was $877.33, “which means there is a surplus of $63.51.”
M.Pino
Source: radiopichincha
(Reference image: Kleomenis Spyroglou on Unsplash)
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