Consumer prices in Panama dropped 0.1 percent year-on-year in December 2019, following a 0.3 percent decline in the previous month. Less deflation was mainly explained by a 0.7 percent rebound in prices for transport (vs -1.6 percent in November). Also, cost of housing and utilities went up 0.2 percent after remaining unchanged in the previous month. In contrast, prices fell further for food & beverages (-0.4 percent vs -0.1 percent) and recreation & culture (-0.8 percent vs -0.4 percent). Meanwhile, inflation for education remained steady at 0.7 percent, while liquor & tobacco booked the highest rate (1.5 percent). On a monthly basis, consumer prices declined 0.2 percent after remaining unchanged in November. Inflation Rate in Panama averaged 2.97 percent from 2008 until 2019, reaching an all time high of 10.04 percent in September of 2008 and a record low of -0.70 percent in October of 2019. source: Instituto Nacional de Estadística y Censo - Panamá

Inflation Rate in Panama is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Panama to stand at 1.00 in 12 months time. In the long-term, the Panama Inflation Rate is projected to trend around 1.10 percent in 2020, according to our econometric models.


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Panama Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 -0.30 10.04 -0.70 2008 - 2019 percent Monthly
2013=100



Calendar GMT Actual Previous Consensus TEForecast
2019-10-14 10:00 PM Sep -0.6% -0.6% -0.4%
2019-11-15 10:00 PM Oct -0.7% -0.6% -0.7%
2019-12-13 10:00 PM Nov -0.3% -0.7% -0.5%
2020-01-15 10:00 PM Dec -0.1% -0.3% -0.4%
2020-02-14 04:30 PM Jan -0.1% -0.2%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
2019-12-13
Panama Consumer Prices Fall at Softer Pace
Consumer prices in Panama dropped 0.3 percent year-on-year in November 2019, following a 0.7 percent decline in the previous month. Prices fell less for transport (-1.6 percent vs -4.7 percent in October), while cost of housing and utilities remained unchanged after dropping 0.3 percent in the prior month. Additionally, prices continued to decline for recreation & culture (-0.4 percent, the same as in October); and communications (-1.2 percent). Meantime, cost of food & non-alcoholic beverages went down 0.1 percent, after rising 0.5 percent in October; while inflation was steady for education (at 0.7 percent). On a monthly basis, consumer prices remained unchanged, following a 0.1 percent fall in the previous month.

2019-11-15
Panama Consumer Prices Decline Further
Consumer prices in Panama dropped 0.7 percent year-on-year in October 2019, following a 0.6 percent decline in the previous month. It was the sharpest fall in consumer prices since at least 2008, as cost went down further for transport (-4.7 percent vs -4.4 percent in September), and food & beverages inflation slowed (0.5 percent vs 1.0 percent). Also, prices of housing & utilities continued to fall (-0.3 percent, the same as in September). In contrast, prices fell less for communications (-1.2 percent vs -1.6 percent) and recreation & culture (-0.4 percent vs -0.6 percent). Meantime, inflation was steady for education (at 0.7 percent). On a monthly basis, consumer prices edged down 0.1 percent after remaining unchanged in the previous month.

2019-10-14
Panama Consumer Prices Keep Falling
Consumer prices in Panama dropped 0.6 percent year-on-year in September 2019, the same pace as in the previous month. It remained the sharpest fall in consumer prices since at least 2008, as prices declined further for transport (-4.4 percent vs -3.5 percent in August). In addition, cost continued to fall for furnishings & household equipment (-1.2 percent, the same as in August) and communications (-1.6 percent, the same as in August). Also, prices slowed for miscellaneous goods & services (0.1 percent vs 0.2 percent) and education (0.7 percent vs 0.8 percent). In contrast, cost of food & beverages advanced at a faster pace (1.0 percent vs 0.6 percent), as prices for milk and eggs jumped 3.3 percent each. Also, prices fell less for recreation & culture (-0.6 percent vs -0.7 percent) and housing & utilities (-0.3 percent vs -0.4 percent). On a monthly basis, consumer prices were flat after falling 0.3 percent in August.

2019-09-13
Panama Deflation Deepens in August
Consumer prices in Panama dropped 0.6 percent year-on-year in August 2019, after falling 0.3 percent in the previous month. It was the sharpest fall in consumer prices since at least 2008, as prices declined further for transport (-3.5 percent vs -2.3 percent in July); housing & utilities (-0.4 percent vs -0.2 percent), and recreation & culture (-0.7 percent vs -0.6 percent). Also, cost of food & beverages slowed (0.6 percent vs 0.8 percent), mainly due to fish (-0.5 percent) and beverages (-0.5 percent). Additionally, inflation was steady for restaurants & hotels (at 1.2 percent). On a monthly basis, consumer prices went down 0.3 percent, following a 0.2 percent increase in the prior month.

2019-08-14
Panama Consumer Prices Fall 0.3% YoY in July
Consumer prices in Panama dropped 0.3 percent year-on-year in July 2019, after falling 0.5 percent in the previous month. Prices declined less mainly for transport (-2.3 percent vs -3.6 percent in June); recreation & culture (-0.6 percent vs -0.8 percent); housing & utilities (-0.2 percent vs -0.7 percent). Meanwhile, cost rose for food & beverages (0.8 percent, the same pace as in the previous month); alcoholic beverages & tobacco (1.7 percent vs 1.9 percent) and restaurants & hotels (1.2 percent, the same pace as in June). On a monthly basis, consumer prices went up 0.2 percent, following a 0.3 percent decrease in the prior month.

2019-07-15
Panama Consumer Prices Fall 0.5% YoY in June
Consumer prices in Panama fell 0.5 percent year-om-year in June 2019, following a flat reading in the previous month. Prices declined further for transport (-3.6 percent vs -0.7 percent in May); housing & utilities (-0.7 percent vs -0.5 percent); recreation & culture (-0.8 percent vs -0.7 percent); household furniture & appliances (-0.4 percent vs -0.3 percent); and communications (-1.6 percent vs -0.8 percent). also, cost of clothing continued to fall (-1.0 percent, the same as in May) and prices of restaurants & hotels slowed (1.2 percent vs 1.3 percent). On the other hand, cost of food & beverages rose to 0.8 percent from 0.7 percent and inflation was steady for liquor & tobacco (at 1.9 percent). On a monthly basis, consumer prices dropped 0.3 percent, after a 0.1 percent gain in the prior month.


Panama Inflation Rate
In Panama, the most important categories in the consumer price index are Food and Non-Alcoholic Beverages (22.4 percent of total weight) and Transport (16.8 percent). Miscellaneous Goods and Services account for 9.8 percent; Recreation and Culture for 9.7 percent; Housing and Utilities for 8.5 percent and Furniture, Household Goods and Maintenance for 7.8 percent. Clothing and Footwear; Restaurants and Hotels; Communication; Health; Education and Alcoholic beverages and Tobacco account for the remaining 25 percent of total weight.

Panama Prices Last Previous Highest Lowest Unit
Inflation Rate -0.10 -0.30 10.04 -0.70 percent [+]
Inflation Rate Mom -0.20 0.00 0.90 -0.90 percent [+]
Food Inflation -0.40 -0.10 15.60 -1.70 percent [+]
Consumer Price Index Cpi 104.60 104.77 105.57 101.42 points [+]
Cpi Housing Utilities 102.11 102.07 107.31 98.20 points [+]
CPI Transportation 103.08 103.57 108.30 96.00 points [+]