Panama Inflation July 2022

Panama

Panama: Inflation falls to lowest level since March in July

August 12, 2022

Consumer prices dropped 1.24% in July over the previous month, swinging from the 1.12% increase recorded in June. July's result marked the lowest reading since April 2020. Looking at the details of the release, it was the decline in transportation costs, thanks to government price caps on fuel, which drove the month-on-month fall in prices. Nevertheless, prices for food and non-alcoholic beverages as well as housing utilities increased at a faster pace in July, while prices for clothing and footwear were largely stable from the previous month's reading.

Inflation shrunk to 3.5% in July, following June’s 5.2%. July's result marked the weakest inflation rate since March. Meanwhile, the trend was unchanged, with annual average inflation remaining at June’s 3.2% in July.

Our panelists project that inflation will end 2022 at 4.8%, which is up 0.6 percentage points from last month’s forecast. The panel sees inflation ending 2023 at 2.6%.


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Panama Inflation July 2022 0

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


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