In recent months, inflation has hit most of the Latin American markets, driven, among other things, by the rise in interest rates in the United States, which has lead to dollar prices never seen in the past.
In this context, according to a statement from the National Institute of Statistics and Census (INEC), inflation in Panama as of July 2022 reached 3.5%, the lowest rate in all of Central America.
In the same measurement period, the rest of the countries of the region registered indices that are detailed below.
- Nicaragua 11.5%
- Costa Rica 11.4%
- Honduras 10.9%
- Guatemala 8.3%
- Panama 3.5%
For August, the record was 2.1% (1.4 points lower than the previous month), with transport being one of the incidents with the most drop after the decrease in fuel prices.
The appreciation of the US dollar has allowed for cheaper importation rates from economies with different currencies, which has an impact on the market for goods and services as the country has a high external demand.
It is estimated that the country will have a 9% growth in the Gross Domestic Product (GDP) by 2022, with great recovery after the conflicts generated by the pandemic.
The sectors that are driving growth are mining and logistics, while sectors such as construction and retail are also expected to recover.
