Panama Inflation January 2021


Panama: Consumer prices drop at a softer pace on an annual basis in January

March 15, 2021

Consumer prices rose 0.31% in January over the previous month, matching December's reading. January's figure marked the joint-sharpest increase in prices since June 2020. The print saw prices for tobacco and alcoholic beverages grow at a fast pace, while clothing and footwear and hotels and restaurants prices remained stable. Contrastingly, prices for communication and education fell.

Consumer prices declined 1.4% in January, following December’s 1.6% decrease. The annual average variation of consumer prices ticked down to minus 1.7% in January (December: -1.6%).

Our panelists project that consumer prices will end 2021 1.1% higher year-on-year, which is down 0.1 percentage points from last month’s forecast. The panel sees consumer prices increasing 1.4% year-on-year at the end of 2022.

Author:, Junior Economist

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Panama Inflation Chart

Panama Inflation January 2021

Note: Annual and monthly variation of consumer price index in %.
Source: Instituto Nacional de Estadística y Censo.

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