Panama Inflation January 2018


Panama: Inflation inches down in January

January 15, 2018

Consumer prices rose 0.20% month-on-month in December, coming in slightly above the 0.19% increase observed in December. According to the National Comptroller’s Office (Contraloría General de la República), January’s print reflected higher prices in 7 of the 12 components of the index. Higher prices for hotels and restaurants, and alcoholic beverages and tobacco were largely behind the monthly increase.

Inflation inched down from 0.5% in December to 0.4% in January. Given Panama’s dollarized economy, authorities lack the freedom to use monetary policy or exchange rate adjustments to influence inflation. Meanwhile, annual average inflation edged down from 0.9% in December to 0.8% in January.

FocusEconomics Consensus Forecast panelists expect inflation to end 2018 at 1.7%, which is down 0.3 percentage points from last month’s projection. For 2019, panelists project inflation of 2.4%.

Author: Jean-Philippe Pourcelot, Economist

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Panama Inflation Chart

Panama Inflation January 2018

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

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