Panama consumer prices up 0.4 pct in August
PANAMA CITY, Sept 15 (Reuters) - Consumer prices in Panama rose 0.4 percent in August versus July while 12-month inflation hit 9.8 percent at the end of August, the strongest rise so far this year, the government said on Monday.
Rising electricity and food prices pushed up the cost of living in August despite a 1.7 percent drop in transport costs as gasoline prices dipped in tandem with world oil prices, the comptroller general's office said.
Panama, which uses the dollar as its currency, tends to enjoy lower inflation than the United States but high global food and fuel prices and strong domestic demand have driven inflation rates to their highest levels since the early 1980s.
In July, consumer prices rose 0.4 percent and 12-month inflation was 9.6 percent.
Inflation has jumped across Latin America this year on commodity prices, driven by higher demand from fast-growing countries in Asia and the rise of the biofuel industry. (Reporting by Andrew Beatty; Editing by Diane Craft)
