Panama Inflation January 2016

Panama

Panama: Inflation remains steady in January

February 12, 2016

In January, consumer prices rose 0.1% month-on-month, which contrasted the 0.1% drop tallied in December. According to the National Comptroller’s Office (Contraloría General de la República), January’s print reflected price increases for 10 of the 12 categories included in the survey; the restaurant and hotel component tallied the biggest rise.

Inflation remained steady in January at the 0.3% reading recorded in December. Inflation has reached historically-low levels owing to a price control system and falling oil prices. In December, the government extended the price control system for an additional six months. Due to the country’s dollarized economy, authorities lack the freedom to use monetary policy or exchange rate adjustments to influence inflation.

Panelists participating in the FocusEconomics Consensus Forecast expect inflation to reach 1.7% by the end of 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel sees inflation at 2.3%.


Author: Jean-Philippe Pourcelot, Economist

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Panama Inflation Chart


Panama Inflation January 2016 0

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


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