High fuel prices pushing Panama inflation

(Newsroompanama.com) Panama economists are forecasting an inflationary upsurge to between five and seven percent in 2010.

They warn that the high price of fuel will impact the national economy, affecting food production, the price of electricity and the cost of transport and construction materials.

It could also affect the cost of major infrastructure projects and the widening of the Panama Canal.

But the Ministry of Economy and Finance forecasts an increase of only four percent, up from the 3.5 percent forecast it issued at the beginning of the year.

Minister of Economy and Finance Alberto Vallarino Vallarino called on people to implement energy saving measures.

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Original Source: Newsroompanama.com

Date Retrieved: March 11, 2011.