Inflation in Panama
Panama - Inflation
Inflation falls to lowest level since March in July
Consumer prices dropped 1.24% in July over the previous month, swinging from the 1.12% increase recorded in June. July's result marked the lowest reading since April 2020. Looking at the details of the release, it was the decline in transportation costs, thanks to government price caps on fuel, which drove the month-on-month fall in prices. Nevertheless, prices for food and non-alcoholic beverages as well as housing utilities increased at a faster pace in July, while prices for clothing and footwear were largely stable from the previous month's reading.
Inflation shrunk to 3.5% in July, following June’s 5.2%. July's result marked the weakest inflation rate since March. Meanwhile, the trend was unchanged, with annual average inflation remaining at June’s 3.2% in July.
Our panelists project that inflation will end 2022 at 4.8%, which is up 0.6 percentage points from last month’s forecast. The panel sees inflation ending 2023 at 2.6%.
Panama - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.1||0.7||0.9||0.8||-0.4|
5 years of economic forecasts for more than 30 economic indicators.
Panama Inflation Chart
Source: General Controllership of the Republic of Panama and FocusEconomics calculations.
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August 19, 2022
Economic activity rose 8.4% year on year in June, softening from May’s +26.3% increase.
August 12, 2022
Consumer prices dropped 1.24% in July over the previous month, swinging from the 1.12% increase recorded in June.
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.
June 20, 2022
Economic activity increased 6.2% year on year in April (March: +12.6% yoy).
June 15, 2022
Consumer prices increased 0.76% over the previous month in May, picking up from the 0.58% rise seen in April.