Panama Inflation November 2016

Panama

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.

Panelists participating in the FocusEconomics Consensus Forecast expect inflation to reach 1.3% by the end of 2016, which is up 0.3 percentage points from last month’s forecast. For 2017, the panel sees inflation at 2.1%.


Author: Jean-Philippe Pourcelot, Economist

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Panama Inflation November 2016 0

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


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