Panama Inflation September 2016


Inflation inches up in September

Consumer prices in a month-on-month comparison increased 0.2% in September after a flat reading in August. According to the National Comptroller’s Office (Contraloría General de la República), September’s print reflected higher prices in 7 of the 12 components of the index, with the transportation sub-category increasing the most due to a hike in gas prices.

Inflation increased from 0.5% in August to 1.2% in September. Inflation has hovered at historically low levels owing to a strong USD and low prices for commodities. Due to the country’s dollarized economy, the authorities lack the freedom to use monetary policy or exchange rate adjustments to influence inflation. Meanwhile, annual average inflation inched up from 0.3% in August to 0.4% in September, marking the highest reading in one year.

Panelists participating in the FocusEconomics Consensus Forecast expect inflation to reach 1.1% by the end of 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel sees inflation at 2.0%, which is unchanged from last month’s forecast.

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Panama Inflation Chart

Panama Inflation September 2016

Note: Annual variation of consumer price index in %.
Source: National Comptroller’s Office and FocusEconomics calculations

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