Ecuador registers an increase in the cost of the basic family basket | News

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The National Institute of Statistics and Censuses (INEC) of Ecuador reported this Tuesday that the price of the basic family basket (CFB) increased by $40.32 compared to January 2022.


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The entity reported that in the month of January 2023, the cost of the CFB, made up of 75 products, was $764.71, while the monthly family income of a typical household was $840.00, which which represents 109.85 percent of the cost of the CFB.

In this sense, monthly inflation in January 2023 compared to December 2022 was 0.12 percent; while the price variation of January 2023 with respect to the same month of 2022, was 3.12 percent, since at that time it was 2.56 percent.

The INEC highlights that the category of food and non-alcoholic beverages had the greatest impact on the variation of the Consumer Price Index (CPI), with a variation of 0.08 percent of the products included in the basket. , which had been 1.96 percent in January 2022.

On the other hand, the monthly inflation of the rest of the products (Non-Food) reached a value of 0.13 percent last January, but in the same month of 2022 it was 0.36 percent.

According to statistics, only 33 percent of Ecuadorians can cover the CFB, because they have a stable and adequate job, while it is more complex for informal workers.

Although the minimum wage in Ecuador rose from $425 to $450, it still does not cover the full cost of the basket.

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