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New rise in basic Panama food basket

07/17/2011 By Panama Eric

Panamanians paid $ 287.55 for food staples, in a country where 2.8 million people earn less than $ 600 a month.

(Prensa.com) For the fifth consecutive time in 2011, the cost of basic family food basket shows increase. In May this year, the increase was $ 1.90 as compared to April, which might seem insignificant if the figure looks alone, but when you look at the total cost of the basket, the weight is really high.

Panamanians are paying $ 287.55 for a basic basket of food in a country where there are 2 million 865 thousand 530 people with incomes below $ 600 a month, which represents 84.86% of the total population, not to mention that 884 000 251 one million receiving income less than $ 100 a month, according to the latest census of the Comptroller.

A recent report by the Ministry of Economy and Finance (MEF) notes that basket reflects an increase of $ 18.63 or 6.93% to 12 months ago.

The agency reports that if the basic food basket will include subsidized gas tank for cooking 25 pounds, would cost $ 291.92 in the districts of Panama and San Miguelito. The monthly report of this economic indicator shows that the food had greater increases are the national tomato, cassava, brisket, apple, milk powder, margarine, mayonnaise, white bread, yams, macaroni, potatoes, bananas and ground beef.

The cost increase due to rising imports, the projections of intermediaries and producers, and by climatic effects on crops, highlights MEF.

The basic food basket behavior keeps rising since September 2010, when he averaged a cost of $ 275.09.

And recently, there was the Consumer Price Index last June rose 6.5%, where the divisions of transportation, clothing and footwear, as well as miscellaneous goods and services were the largest increases reflected.

The president of the Association of Free Consumers, Raul Eduardo Molina says that rather than ask high prices for food have to diagnose the loss of value by the dollar.

It also states that the local situation does little to improve the inflation outlook when they have seen increased costs to businesses, there are tax rates as the Advance Monthly Income Tax (Amir), which is affecting the sector production, among other charges for higher government revenues.

Related posts:

  1. Basic food basket rises 4.7 percent in Panama
  2. Panama has 4.9% rise in consumer prices for December
  3. Niko’s Cafe Panama: Cafeteria Style Food That’s Surprisingly Good
  4. Panama wholesale prices rise 3.7 percent
  5. Tocumen Airport opens food court

Filed Under: Living In Panama, Moving To Panama Tagged With: Panama Cost of Living

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