Panama Inflation October 2016

Panama

Panama: Inflation increases in October

Panamanian consumer prices increased 0.10% in a month-on-month comparison in October, coming in below September’s 0.19%. According to the National Comptroller’s Office (Contraloría General de la República), October’s print reflected higher prices in 5 of the 12 components of the index, with the transportation and household, water, electricity, and gas components observing the biggest increases.

Inflation increased from 1.2% in September to 1.4% in October. 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 0.4% in September to 0.4% in October, marking the highest reading in over one year.

Panelists participating in the FocusEconomics Consensus Forecast expect inflation to reach 1.0% by the end of 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel sees inflation at 1.9%, which is also down 0.1 percentage points from last month’s forecast.


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Panama Inflation Chart


Panama Inflation October 2016

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


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