Panama Inflation

Panama

Panama: Inflation falls to six-month low in August

September 15, 2015

In August, consumer prices fell 0.39% over the previous month, which contrasted July’s 0.10% increase. According to the National Comptroller’s Office (Contraloría General de la República), the monthly reading was largely the result of a decrease in prices for transport. Price pressures for basic goods continue to be kept in check by the price control system that President Juan Carlos Varela introduced in July of last year.

Inflation fell from 0.9% in July to 0.4% in August, which marked a six-month low. The price control system and falling oil prices are keeping inflation at historically-low levels. Due to the country’s dollarized economy, authorities lack the freedom to use monetary policy or exchange rate adjustments to influence inflation.

LatinFocus Consensus Forecast panelists expect inflation to reach 2.7% by the end of 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel sees inflation at 3.0%.


Author:, Economist

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Panama Inflation Chart


Panama Inflation August 2015

Note: Annual variation of consumer price index in %.
Source: National Comptroller’s Office and FocusEconomics calculations. The National Comptroller’s Office revised their methodology for calculating the consumer price index and changed the base year from October 2002 to 2013. The annual variation for November 2014 was not provided. Historical data refer to the old base year.


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