(Prensa.com) Inflation in Panama accelerated 0.9 percent in March as compared to February. This, mainly driven by the rising prices of transportation due to the hike in fuel prices.
The National Institute of Statistics reported on Wednesday that the annualized Consumer Price Index (CPI) was 5.5 percent up until March.
The agency further informed that the biggest increases were observed in the sectors of transportation (3 percent), education (2 percent), and clothing and footwear along with miscellaneous goods and services (0.9 percent).
According to projections released by the government on Tuesday, Panama is expected to close the year with an inflation of between 4.0 percent and 4.5 percent. Last year culminated with a 3.5 percent inflation.
Rising oil prices have pushed up transport costs as well as food in Panama, a small Central- American nation that depends on fuel imports.