Consumer prices in Panama fell 2.5 percent over a year earlier in May 2020, following a 2.4 percent drop in the previous month. It was the biggest decline in consumer prices since at least 2008. source: Instituto Nacional de Estadística y Censo - Panamá

Inflation Rate in Panama averaged 2.83 percent from 2008 until 2020, reaching an all time high of 10.04 percent in September of 2008 and a record low of -2.50 percent in May of 2020. This page provides - Panama Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Panama Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Inflation Rate in Panama is expected to be -1.30 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 -0.60 in 12 months time. In the long-term, the Panama Inflation Rate is projected to trend around -0.20 percent in 2021 and 0.80 percent in 2022, according to our econometric models.

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Panama Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-2.50 -2.40 10.04 -2.50 2008 - 2020 percent Monthly

Calendar GMT Actual Previous Consensus TEForecast
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 11:00 PM Jan 0.4% -0.1% -0.2%
2020-03-13 09:15 PM Feb 0.0% 0.4% 0.3%
2021-01-15 10:00 PM Dec
2021-02-15 11:00 PM Jan
2021-03-12 09:15 PM Feb

News Stream
Panama Consumer Prices Unchanged YoY
Consumer prices in Panama remained unchanged on an annual basis in February 2020, falling from a 0.4 percent increase in January. The decrease was mainly explained by a 1 percent drop in prices following a 0.5 percent fall in the previous month, as poultry prices declined 7.5 percent and cereals 3.9 percent. Also, inflation for liquor & tobacco dropped to 0.9 percent from 1.2 percent, while clothing prices fell 0.5 percent. Transport prices also slowed down significantly (0.7 percent vs 2.6 percent). On a monthly basis, consumer prices declined 0.3 percent, after edging up 0.1 percent in the prior month.
Panama Inflation Rate at 14-Month High in January
Consumer prices in Panama rose 0.4 percent year-on-year in January 2020, rebounding from a 0.1 percent decline in the previous month. It was the highest inflation rate since November 2018, boosted by cost of transport (2.6 percent compared to 0.7 percent in December); housing & utilities (1.6 percent compared to 0.2 percent); and education (1.3 percent compared to 0.7 percent). In contrast, prices of food & beverages dropped 0.5 percent, faster than a 0.4 percent decline in December; and cost of alcoholic beverages & tobacco slowed to 1.2 percent from 1.5 percent. On a monthly basis, consumer prices edged up 0.1 percent, after decreasing 0.2 percent in the prior month.
Panama Consumer Prices Dip at Softer Rate
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.
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.

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.