Consumer prices in Panama fell 0.1 percent year-on-year in April 2019, following a 0.2 percent decline in the previous month. Cost of food & beverages rose further (0.5 percent compared to 0.2 percent), mainly due to vegetables (1.6 percent), meat (1.2 percent) and bread (0.4 percent). Additionally, prices of transport fell less (-0.9 percent compared to -1.1 percent). On the other hand, prices declined at a faster pace for housing & utilities (-0.3 percent compared to -0.2 percent) and continued to fall for clothing & footwear (-1.5 percent, the same as in March); recreation & culture (-0.6 percent); and communications (-0.9 percent). On a monthly basis, consumer prices went up 0.3 percent, easing from a 0.4 percent gain in the prior month. Inflation Rate in Panama averaged 3.17 percent from 2008 until 2019, reaching an all time high of 10.04 percent in September of 2008 and a record low of -0.50 percent in February of 2019.
Inflation Rate in Panama is expected to be 0.50 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 1.80 in 12 months time. In the long-term, the Panama Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.