Inflation Panama 2022
Average inflation: 2.9%
Inflation in 2022
Inflation is normal at 2.9%, around the ECB target.
Peak and Trough
The highest inflation was in June at 5.2%. The lowest inflation was in November at 1.5%.
- Highest month
- June: 5.2%
- Lowest month
- November: 1.5%
- Difference
- 3.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 3.9%. The lowest price increase was in Energy with an average of 1.8%.
- Highest increase
- Food: 3.9%
- Lowest increase
- Energy: 1.8%
Historical Context
Inflation is 2.2 percentage points higher than the 5-year average of 0.7%.
- 5-year average
- 0.7%
- 10-year average
- 1.2%
- All-time high (2008)
- 8.8%
- All-time low (2020)
- -1.5%
Trend
Over the period 2020-2022, inflation shows an upward trend. Compared to 2021, inflation has risen by 1.3 percentage points.
- Change vs. previous year
- +1.3 percentage points
- Largest monthly swing
- January: +4.0 percentage points
ECB Target
Inflation is 0.9 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for PAB 100 this year will cost approximately PAB 102.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 2.6% | +4.0 |
| February | 2.7% | +3.3 |
| March | 3.2% | +2.9 |
| April | 3.7% | +2.0 |
| May | 4.2% | +2.3 |
| June | 5.2% | +3.6 |
| July | 3.5% | +1.1 |
| August | 2.1% | -0.3 |
| September | 1.9% | -0.6 |
| October | 1.7% | -1.2 |
| November | 1.5% | -1.9 |
| December | 2.1% | -0.5 |
| Average | 2.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.