TODAY PANAMA – In December, the consumer price index declined by 0.4% compared to November, placing the annual inflation rate at the close of 2014 at 2.6%

From a statement issued by the National Institute of Statistics and Census of Panama:

The Consumer Price Index (CPI) in December compared with November 2014, recorded a low of 0.4% for both the National Urban Area and for the districts of Panama and San Miguelito, while for the Other Urban Areas it was 0.5%.

The group that showed the greatest decrease, of 2.9%, was Transportation, due to the drop in fuel prices; followed by the groups Recreation and Culture, 0.5%, due to the decrease in the price of televisions, and Clothing and Footwear, 0.4%, due to lower price of jeans for women. The groups showing increases were Communications with 3.3%; Restaurants and Hotels, 0.3% Miscellaneous Goods and Services, and Furniture, Home furnishings and Household maintenance, both with 0.1%. Remaining unchanged were the categories of Food and Non-alcoholic beverages and Education.

When comparing the annual indices for 2014 with 2013, the following changes are to be seen: National Urban Areas 2.6%; for the districts of Panama and San Miguelito 2.7% and 2.6% for Other Urban Areas.

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