In January 2021, Ecuador's monthly inflation was 0.12%, lower than the previous year's figure of 0.23%. The annual inflation for the same period stood at -1.04%, higher than -0.30% in January 2020. The National Institute of Statistics and Censuses (INEC) reported that the cost of the Basic Family Basket was $ 712.11, while the average monthly family income was $ 746.67, which was 104.85% of the CFB's cost. Food and health prices contributed the most to the monthly inflation. The cities with the highest inflation were Manta, Cuenca, and Loja, with rates of 0.76%, 0.41%, and 0.36% respectively.