Riding a yellow hornet costing more as inflation kicks in

With Panama’s inflation rate expected to rise above 5 percent this year, riding a yellow hornet is going to cost you more. Taxi fares will rise by 20 percent hitting the lowest paid workers the hardest.

The transportation authority ATTT attributed the increase to the rising cost of gasoline. Government  officials met Sunday, April 10, to examine the impact of gasoline prices which rose the day before to well past $4 a gallon.

 ATTT chief Jorge Ricardo Fábrega said the agency has reached an agreement with taxi drivers for increasing fares 20 percent and increasing the charge for extra riders, from 40 cents to 50 cents.

When the rates are approved by the government, a table will be distributed to drivers in Panama and San Miguelito which will have to be provided to passengers on request.