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. Inflation Rate in Panama averaged 3.12 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 1.20 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 1.90 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.