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Panama Inflation December 2019

Panama: Consumer prices end year in deflationary territory

Consumer prices dropped 0.2% in December on a month-on-month basis, following a flat reading in November. Falling prices for transport, furniture, and recreation and culture drove the overall reading.

Meanwhile, consumer prices fell 0.1% on an annual basis in December, slowing from the 0.3% drop observed in November. Annual average consumer prices fell 0.4% year-on-year in December, following a decline of 0.3% in the month prior.

Inflationary pressures will likely return this year as economic activity gradually strengthens. However, due to the dollarized nature of the Panamanian economy and comparatively low global oil prices, inflation is set to remain relatively restrained compared with regional partners.

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