Inflation Panama 2023
Average inflation: 1.5%
Current Inflation
Inflation is low at 1.5%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in January at 2.7%. The lowest inflation was in June at -0.6%.
- Highest month
- January: 2.7%
- Lowest month
- June: -0.6%
- Difference
- 3.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 10.4%. The lowest price increase was in Food with an average of 3.4%.
- Highest increase
- Energy: 10.4%
- Lowest increase
- Food: 3.4%
Historical Context
Current inflation is 0.7% higher than the 5-year average of 0.8%.
- 5-year average
- 0.8%
- 10-year average
- 0.8%
- All-time high (2022)
- 2.9%
- All-time low (2020)
- -1.5%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-1.4 percentage point).
- Change vs. previous year
- -1.4 percentage points
- Largest monthly swing
- June: -5.8 percentage points
ECB Target
Inflation is 0.5% 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 €100 this year will cost approximately €101.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 2.7% | +0.1 |
| February | 2.0% | -0.7 |
| March | 1.3% | -1.9 |
| April | 1.0% | -2.7 |
| May | 0.4% | -3.8 |
| June | -0.6% | -5.8 |
| July | 0.6% | -2.9 |
| August | 2.2% | +0.1 |
| September | 2.3% | +0.4 |
| October | 2.1% | +0.4 |
| November | 2.0% | +0.5 |
| December | 1.9% | -0.2 |
| Average | 1.5% |
Data source
Data from WorldBank. Last updated: 06/01/2026.