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Panama's inflation hits more than two-year high in April at 6.3 percent on year

Monday, May 16, 2011

Panama consumer prices rose 1.1 percent in April and pushed annual inflation to highs not seen in two years as the nation tries to control inflation while maintaining strong growth.

Consumer prices in Panama rose 1.1 percent in April versus March, bringing the 12-month inflation rate to 6.3 percent, the government statistics agency said.

The 12-month inflation rate was the highest since December 2008, according to government statistics, as high oil prices due to Middle East conflict helped drive prices higher in import-dependent Panama.

Original source: Reuters