Inflation Panama 2024
Average inflation: 0.7%
Current Inflation
Inflation is very low at 0.7%, well below the ECB target.
Peak and Trough
The highest inflation was in March at 1.7%. The lowest inflation was in September at -0.3%.
- Highest month
- March: 1.7%
- Lowest month
- September: -0.3%
- Difference
- 2.0 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 1.5%. The lowest price increase was in Food with an average of 0.6%.
- Highest increase
- Energy: 1.5%
- Lowest increase
- Food: 0.6%
Historical Context
Current inflation is around the 5-year average of 1.0%.
- 5-year average
- 1%
- 10-year average
- 0.7%
- All-time high (2008)
- 8.8%
- All-time low (2020)
- -1.5%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +0.8 percentage point.
- Change vs. previous year
- -0.8 percentage points
- Largest monthly swing
- September: -2.6 percentage points
ECB Target
Inflation is 1.3% 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 €100.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 1.2% | -1.5 |
| February | 1.5% | -0.5 |
| March | 1.7% | +0.4 |
| April | 1.7% | +0.7 |
| May | 1.3% | +0.9 |
| June | 0.9% | +1.5 |
| July | 0.8% | +0.2 |
| August | 0.3% | -1.9 |
| September | -0.3% | -2.6 |
| October | -0.3% | -2.4 |
| November | -0.3% | -2.3 |
| December | -0.2% | -2.1 |
| Average | 0.7% |
Data source
Data from WorldBank. Last updated: 06/01/2026.