Panama Inflation December 2016


Panama: Inflation picks up in December 2016

January 13, 2017

Consumer prices in Panama rose 0.10% from the previous month in December, contrasting the 0.10% drop observed in November. According to the National Comptroller’s Office (Contraloría General de la República), December’s print reflected higher prices in 4 of the 12 components of the index, with the transportation component observing the largest increase.

Inflation edged up from November’s 1.3% to 1.5% in December, a one-year high. 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 inched down from 0.8% in November to 0.7% in December.

Panelists participating in the FocusEconomics Consensus Forecast expect inflation to reach 1.9% by the end of 2017, which is down 0.2 percentage points from last month’s forecast. For 2018, the panel sees inflation ending at 2.2%.

Author: Jean-Philippe Pourcelot, Economist

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Panama Inflation Chart

Panama Inflation December 2016

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

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