Latest reading: Inflation climbed to 11.8% in June from May’s 11.3%, marking the joint-highest rate since August 2023. The reading...
Inflation in Panama
Consumer price inflation in Panama averaged 2.6% in the ten years to 2024, in line with the Central America and Caribbean regional average of 2.6%. The 2024 average figure was 0.7%. For more information on inflation, visit our dedicated page
Panama Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Panama from 2014 to 2024.
Source: Macrobond.
Panama Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | -1.6 | 1.6 | 2.9 | 1.5 | 0.7 |
| Inflation (CPI, ann. var. %, eop) | -1.6 | 2.6 | 2.1 | 1.9 | -0.2 |
| Inflation (PPI, ann. var. %, aop) | -0.3 | 2.3 | 3.2 | 1.8 | 0.1 |
Consumer prices fall again in May
Latest reading: Consumer prices fell 0.7% in annual terms in May, matching April’s result. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a more moderate rate, and housing and energy prices declined at a more pronounced rate. That said, transport costs fell at a softer pace. The trend pointed down mildly, with the annual average coming in at minus 0.1% in May (April: +0.1%). Lastly, consumer prices dropped 0.12% in May over the previous month, a less pronounced fall than the 0.15% drop recorded in April.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Panamanian inflation projections for the next ten years from a panel of 15 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Panamanian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Panamanian inflation projections.
Want to get access to the full dataset of Panamanian inflation forecasts? Send an email to info@focus-economics.com.
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