Panama Inflation More Doubles Up
Wednesday, July 15, 2009 14:50
Panama Inflation more doubles up
The inflation rate for Panama measured in at 8,7 percent for the 2008 year, which is more than double the 4,2 percent recorded for the 2007 year. Although the inflation rates reached 10 percent in September, the drop in oil prices in November and December, allowed the correction of the inflation rate.
The cost of living increase is said to be the highest since the 1980s, and the sectors that contributed the highest price increases included food and beverage; transport; and housing water electricity and gas, which experienced increases measured at 14,9; 10,2 and 6,2 percent respectively.
A slight respite in this increase in cost of living was provided by the reduced gas prices which are expected to settle just above the $2 per gallon level shortly.
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