Panama: Inflation falls to lowest level since March in July
August 12, 2022
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.