Panama: Inflation edges down in November
December 12, 2016
Panamanian consumer prices in a month-on-month comparison dropped 0.10% in November, contrasting the 0.10% increase observed in October and marking the first drop in monthly consumer prices since June. According to the National Comptroller’s Office (Contraloría General de la República), November’s print reflected lower prices in 6 of the 12 components of the index, with transportation, food and non-alcoholic beverages decreasing the most.
Inflation moderated from 1.4% in October to 1.3% in November. 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 0.5% in October to 0.6% in November, marking the highest reading in over one year.