5 Countries With Lowest Inflation Rates In The World

3. Republic of Panama

Latest Inflation Estimate: 0.2%

The Republic of Panama is a North and South American country. Recently, it imposed some restrictions for shipping through its famous canal due to drought problems. For the period between January and May 2023, inflation in Panama stood at 1.5%. However, even though inflation was quite low as a whole at 0.2% in May, the country experienced significant price increases in several parts of the consumer price index. For instance, housing and utilities prices jumped by 10.9% while food and alcohol grew by 4.2%.