Panama Inflation April 2017


Panama: Inflation moderates to eight-month low in April

May 17, 2017

Consumer prices in Panama remained unchanged in April, coming in above the 0.1% drop observed in March. According to the National Comptroller’s Office (Contraloría General de la República), April’s print reflected lower prices in 6 of the 12 components of the index, with the transportation component recording the largest decrease. In contrast, miscellaneous goods and services was the component that increased the most.

Inflation moderated from March’s 1.5% to 1.0% in April, the lowest print since August 2016. Due to the country’s dollarized economy, the authorities lack the freedom to use monetary policy or exchange rate adjustments to influence inflation. Meanwhile, annual average inflation remained steady in April at the 1.0% reading observed in the preceding month.

Panelists participating in the FocusEconomics Consensus Forecast expect inflation to reach 2.2% by the end of 2017, which is up 0.3 percentage points from last month’s forecast. For 2018, the panel sees inflation ending at 2.5%.

Author: Jean-Philippe Pourcelot, Economist

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Panama Inflation Chart

Panama Inflation April 2017

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

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