Inflation Panama 2021
Average inflation: 1.6%
Inflation in 2021
Inflation is low at 1.6%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in November at 3.4%. The lowest inflation was in January at -1.4%.
- Highest month
- November: 3.4%
- Lowest month
- January: -1.4%
- Difference
- 4.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 1.6%. The lowest price increase was in Energy with an average of -3.5%.
- Highest increase
- Food: 1.6%
- Lowest increase
- Energy: -3.5%
Historical Context
Inflation is 1.3 percentage points higher than the 5-year average of 0.3%.
- 5-year average
- 0.3%
- 10-year average
- 1.5%
- All-time high (2008)
- 8.8%
- All-time low (2020)
- -1.5%
Trend
Over the period 2019-2021, inflation shows an upward trend. Compared to 2020, inflation has risen by 3.1 percentage points.
- Change vs. previous year
- +3.1 percentage points
- Largest monthly swing
- November: +5.4 percentage points
ECB Target
Inflation is 0.4 percentage points below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for PAB 100 this year will cost approximately PAB 101.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | -1.4% | -1.8 |
| February | -0.6% | -0.6 |
| March | 0.3% | +1.1 |
| April | 1.7% | +4.1 |
| May | 1.9% | +4.4 |
| June | 1.6% | +3.2 |
| July | 2.4% | +4.6 |
| August | 2.4% | +4.4 |
| September | 2.5% | +4.4 |
| October | 2.9% | +4.8 |
| November | 3.4% | +5.4 |
| December | 2.6% | +4.2 |
| Average | 1.6% |
Data source
Data from WorldBank. Last updated: 06/01/2026.