Inflation in Panama
Panama - Inflation
Inflation comes in at highest level since February 2013 in May
Consumer prices increased 0.76% over the previous month in May, picking up from the 0.58% rise seen in April. The result was largely driven by rising price pressures for food and non-alcoholic beverages as well transport. On the other hand, clothing and footwear saw a small reduction in prices.
Inflation rose to 4.2% in May, following April’s 3.7%. May's result marked the highest inflation rate since February 2013. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 2.9% in May (April: 2.7%).
Our panelists project that inflation will end 2022 at 4.0%, which is down 0.1 percentage points from last month’s forecast. The panel sees inflation ending 2023 at 2.3%.
Panama - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 0.1 | 0.7 | 0.9 | 0.8 | -0.4 |
Panama Inflation Chart
Source: General Controllership of the Republic of Panama and FocusEconomics calculations.
Panama Facts
| Value | Change | Date |
|---|
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Economic News
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Panama: Economic activity grows at quickest pace since August 2021 in May
July 22, 2022
Economic activity grew 26.3% compared to the same month of the previous year in May, soaring from April's 6.2% increase.
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Panama: Economic activity growth eases to over one-year low in April
June 20, 2022
Economic activity increased 6.2% year on year in April (March: +12.6% yoy).
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Panama: Inflation comes in at highest level since February 2013 in May
June 15, 2022
Consumer prices increased 0.76% over the previous month in May, picking up from the 0.58% rise seen in April.
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Panama: Economic growth moderates in Q1, but underlying momentum remains strong
June 7, 2022
According to a preliminary reading, GDP growth slowed markedly to 13.6% year on year in the first quarter, from 16.3% in the fourth quarter of last year.
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Panama: Economic activity growth slows in March
May 19, 2022
Economic activity increased 12.6% in year-on-year terms in March, which represents a slight slowdown from February's 13.3% increase.
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