Panama Inflation March 2017


Panama: Inflation recedes in March

April 13, 2017

Consumer prices in Panama dropped 0.1% from the previous month in March, contrasting the 0.3% month-on-month increase recorded in February. According to the National Comptroller’s Office (Contraloría General de la República), March’s print reflected lower prices in 5 of the 12 components of the index, with the transportation component recording the largest decrease. In contrast, healthcare was the category that rose the most.

Inflation moderated from February’s 1.9% to a four-month low of 1.5% in March. 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 up from 0.9% in February to 1.0% in March.

Panelists participating in the FocusEconomics Consensus Forecast expect inflation to reach 1.7% by the end of 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel sees inflation ending at 1.9%.

Author: Jean-Philippe Pourcelot, Economist

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Panama Inflation Chart

Panama Inflation March 2017

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

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