Panama Inflation

Panama

Panama: Inflation falls to nearly four-year low in May

June 12, 2014

In May, consumer prices rose 0.13% over the previous month, which came in below the 0.53% increase recorded in April. According to the National Comptroller’s Office (Contraloria General de la Republica), the modest monthly increase was mainly driven by higher prices for tourism and medicine.

Annual inflation decreased from 3.5% in April to 3.2% in May, which marked the lowest level since June 2010. Inflation continues to be above 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 3.9% by the end of 2014, which is unchanged from last month’s forecast. For 2015, the panel sees inflation at 3.7%.


Author:, Economist

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Panama Inflation Chart


Panama Inflation May 2014

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


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