Panama Inflation November 2019


Panama: Consumer prices continue to decline in November

December 13, 2019

Consumer prices remained unchanged in November on a month-on-month basis, following a 0.1% decline in October. Higher prices for transport were offset by the falling cost of food products and alcoholic beverages and tobacco.

Meanwhile, consumer prices fell 0.3% on an annual basis in November, decelerating from the 0.7% drop observed in October. Annual average consumer prices fell 0.3% year-on-year in November, following a decline of 0.2% in October.

Inflationary pressures will likely pick up in 2020 from current low levels, as economic activity gradually strengthens. However, due to the dollarized nature of the Panamanian economy and relatively low global oil prices, inflation is set to remain relatively restrained compared with regional partners.

FocusEconomics Consensus Forecast panelists expect inflation to end 2020 at 0.9%, which is unchanged from last month’s forecast, and to end at 1.3% in 2021.

Author:, Economist

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Panama Inflation Chart

Panama Inflation November 2019 0

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

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