Panama Inflation June 2016

Panama

Panama: Inflation in June eases to seven-month low

July 12, 2016

In June, consumer prices dropped 0.10% month-on-month, which contrasted the 0.19% increase tallied in May. According to the National Comptroller’s Office (Contraloría General de la República), June’s print reflected lower prices for 3 of the 12 categories included in the survey. The communications component tallied the biggest drop while transportation was the component that increased the most.

In June, inflation eased from 0.3% in May to 0.1%. June’s print marks the lowest reading since November. Inflation has hovered at historically low levels owing to still-low oil prices and a strong USD. Due to the country’s dollarized economy, authorities lack the freedom to use monetary policy or exchange rate adjustments to influence inflation. Meanwhile, annual average inflation in June rested at the 0.3% mark for the fourth consecutive month.

Panelists participating in the FocusEconomics Consensus Forecast expect inflation to reach 1.3% by the end of 2016, which is unchanged from last month’s forecast. For 2017, the panel sees inflation at 1.9%.


Author: Jean-Philippe Pourcelot, Economist

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Panama Inflation Chart


Panama Inflation June 2016

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


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