PANAMA CITY, May 12 (Reuters) - Panama’s annual inflation rate accelerated in April to 3.5 percent from 3.3 percent the previous month, government figures released on Monday showed.
Month-on-month, consumer prices in the Central American nation rose 0.5 percent in April, the data showed.
Panama’s president-elect, Juan Carlos Varela, said last week he will impose price controls on a range of basic foods to dampen rising costs when he takes office.
The measure would apply to basic foods such as rice, cheese and meat, Varela said in an interview with Reuters, adding that huge profits were being reaped on basic foodstuffs.
Annual inflation was trending lower last year, but in recent months food and drink prices have bucked that trend. (Reporting by Elida Moreno; Editing by Ken Wills)