Rising basic food basket hits working poor

PRESSURE on the budgets of the poorer segment of Panama’s population continues to increase as the cost of the basic food basket continues to rise.

The staples of the Panamanians were up $ 13.70  in May, to $327.50, according to the latest report of the Ministry of Economy.

This means a 4.4% raise over a year ago with 45.6% of 64, 257 households with a monthly income of $ 400 or less for food and other necessities, according to the Comptroller General of the Republic.
The MEF had reported two months since the report of the basket, after the departure of Roger Alvarado, former Director of Economic Analysis of the entity.
This meant that the April and May results were given in a single report.
Four of the 10 food groups that make up the basket price rose in the fifth month of the year. By May the increases ranged between $ 0.01 and $ 1.35, with significant increases in the stifle, apple, chicken, ground beef, and national tomatos
Among the domestic factors that influenced the rising cost of food in May was the extension of the dry season, which disrupted the agricultural harvest season.
The MEF also lists external factors such as the increase in international prices of some imported food and raw materials that are imported related to unforeseen and adverse climate changes that affected the production and supply of grain, mostly in the United States, the largest Panama provider.
The MEF claims that in April and May, more expensive food groups of meat, fruit and dairy, became cheaper.