Panama Inflation

Panama

Panama: Inflation falls back down to multi-year low in October

November 13, 2014

In October, consumer prices decreased 0.13% over the previous month, which contrasted the 0.33% increase recorded in September. According to the National Comptroller’s Office (Contraloria General de la Republica), the monthly decrease in October was driven mainly by a steep drop in prices for transportation. Prices for food and beverages tallied a negligible rise, kept in check by the price control system for basic products that President Juan Carlos Varela introduced in July.

Annual inflation decreased from 2.3% in September to 2.1% in October, which marked the lowest point in nearly 6 years. The price control system is keeping inflation more in line with historically-low levels. Due to the country’s dollarized economy, authorities lack the freedom to use monetary policy or exchange rate adjustments to reduce inflation.

LatinFocus Consensus Forecast panelists expect inflation to reach 3.6% by the end of 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel sees inflation at 3.6%.


Author:, Economist

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Panama Inflation Chart


Panama Inflation October 2014

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


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