The Ecuador Insider

Ecuador February 2012 CPI Index

As released by the Banco Central of Ecuador and Ministry of Finance, the CPI index in February of 2012 was $583.27 per month.

While the average monthly income per person $408.75.

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The current unemployment rate in Ecuador according to the Central Bank was 5.1% since last calculated in December of 2011.

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The current minimum wage in Ecuador is $292 per month for full time work.

Now, that does not include extra benefits that are required to be paid by law like the social security and healthcare benefits to the IESS, which often cost a business $50-100 per employee.

The minimum wage is slightly less than that in nearby countries like Colombia, Panama and Costa Rica.

Good place to start a business, indeed!

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According to the Banco Central of Ecuador, the projected Ecuador GDP for 2012 is 6.5%, although the projection is often a bit higher than it turns out to be.

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According to the INEC of Ecuador, the annual inflation rate during February of 2012 was 5.53% compared to only 3.39% of February of 2011, and 4.31% during February of 2010.

The annual inflation of 2010 was 3.33% while during 2011 it was 5.41% according to the Central Bank and Ministerio de Finanzas.

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