September 13, 2012 / 5:26 PM / 5 years ago

UPDATE 1-Panama inflation ticks up to 6.1 pct in August -Govt

* Consumer price inflation up 0.5 pct in August

* Higher transportation, food costs responsible for rise

PANAMA CITY, Sept 13 (Reuters) - Panama’s annual consumer price inflation rate accelerated in August by one-tenth of a percentage point to 6.1 percent, the government’s statistics agency said on Thursday, driven by gas prices, food and beverages.

Consumer prices in the Central American country rose by 0.5 percent in August from July, the agency added.

Specifically, the cost of food rose 9.2 percent while transportation costs were up 3.6 percent compared to the same period last year.

Panama’s inflation had slowed in recent months after clocking in at 6.3 percent in March, the seventh consecutive month above 6 percent.

Analysts expect the small country’s rapid economic growth to keep prices high.

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