Panama Inflation April 2016


Panama: Inflation steady in April

May 13, 2016

In April, consumer prices rose 0.5% month-on-month, which followed March’s 0.3% increase. According to the National Comptroller’s Office (Contraloría General de la República), March’s print reflected price increases for 7 of the 12 categories included in the survey. The transportation component tallied the biggest increase while communications was the component that dropped the most.

Inflation came in at 0.6% in April, matching the reading tallied in March. Inflation has hovered around historically low levels owing to a price control system and falling oil prices. In December, the government extended the price control system until June. 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 1.6% by the end of 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel sees inflation at 2.1%.

Author: Jean-Philippe Pourcelot, Economist

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Panama Inflation Chart

Panama Inflation April 2016

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

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