Panama Inflation

Panama

Panama: Inflation picks back up in June after hitting nearly four-year low in May

July 14, 2014

In June, consumer prices rose 0.46% over the previous month, which came in above the 0.13% increase recorded in May. According to the National Comptroller’s Office (Contraloria General de la Republica), the monthly increase was mainly driven by higher prices for food and beverages, as well as for healthcare.

Annual inflation increased from 3.2% in May to 3.4% in June. May’s reading had represented the lowest level in nearly four years. 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 3.8% by the end of 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel sees inflation at 3.6%.


Author:, Economist

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Panama Inflation Chart


Panama Inflation June 2014

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


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