Cost of living in Panama City, Panama

Summary of cost of living in Panama City

  • Family of four estimated monthly costs: 3,099 B/.
  • Single person estimated monthly costs: 1,621 B/.
  • Panama City is the 3rd most expensive city in Latin America (3 out of 40)
  • Cost of living in Panama City is cheaper than in 60% of cities in the World (145 out of 240)

List of prices in Panama City, Panama. Current as of Jun 2020.

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Food [Edit]
Basic lunchtime menu (including a drink) in the business district 14 B/.
Combo meal in fast food restaurant (big mac meal or similar) 7 B/.
500 gr (1 lb.) of boneless chicken breast 3.55 B/.
1 liter (1 qt.) of whole fat milk 1.57 B/.
12 eggs, large 2.50 B/.
1 kg (2 lb.) of tomatoes 2.77 B/.
500 gr (16 oz.) of local cheese 7 B/.
1 kg (2 lb.) of apples 3.08 B/.
1 kg (2 lb.) of potatoes 1.83 B/.
0.5 l (16 oz) domestic beer in the supermarket 0.93 B/.
1 bottle of red table wine, good quality 10 B/.
2 liters of coca-cola 2.43 B/.
Bread for 2 people for 1 day 1.22 B/.
Housing [Edit]
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area 1,302 B/.
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area 888 B/.
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat 112 B/.
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area 941 B/.
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area 605 B/.
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio 99 B/.
Internet 8 mbps (1 month) 34 B/.
40” flat screen tv 392 B/.
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) 100 B/.
Laundry detergent (3 l. ~ 100 oz.) 8 B/.
Hourly rate for cleaning help 5.09 B/.
Clothes [Edit]
1 pair of jeans (levis 501 or similar) 51 B/.
1 summer dress in a high street store (zara, h&m or similar retailers) 34 B/.
1 pair of sport shoes (nike, adidas, or equivalent brands) 80 B/.
1 pair of men’s leather business shoes 81 B/.
Transportation [Edit]
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new 19,907 B/.
1 liter (1/4 gallon) of gas 0.81 B/.
Monthly ticket public transport 26 B/.
Taxi trip on a business day, basic tariff, 8 km. (5 miles) 12 B/.
Personal Care [Edit]
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) 8 B/.
1 box of antibiotics (12 doses) 29 B/.
Short visit to private doctor (15 minutes) 45 B/.
1 box of 32 tampons (tampax, ob, ...) 7 B/.
Deodorant, roll-on (50ml ~ 1.5 oz.) 3.67 B/.
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) 5.62 B/.
4 rolls of toilet paper 2.34 B/.
Tube of toothpaste 2.71 B/.
Standard men's haircut in expat area of the city 15 B/.
Entertainment [Edit]
Basic dinner out for two in neighborhood pub 43 B/.
2 tickets to the movies 12 B/.
2 tickets to the theater (best available seats) 75 B/.
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert 63 B/.
1 cocktail drink in downtown club 10 B/.
Cappuccino in expat area of the city 3.94 B/.
1 beer in neighbourhood pub (500ml or 1pt.) 2.89 B/.
Ipad wi-fi 128gb 521 B/.
1 min. of prepaid mobile tariff (no discounts or plans) 0.20 B/.
1 month of gym membership in business district 51 B/.
1 package of marlboro cigarettes 5.62 B/.
These prices are based on abundant and consistent data. They are very reliable. They are based on 802 prices entered by 77 different people.
Latest price update: June 02, 2020

Moving to Panama City with your children?

International Schools in Panama City

Panama City position in our World Ranking

the world
145th
out of 240
latin america
3rd
out of 40

Cheapest and most expensive products in Panama City compared to other cities:

latin america
1st
latin america
2nd
latin america
2nd
latin america
3rd
latin america
3rd
latin america
3rd

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Furnished accommodation in EXPENSIVE area

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International Cost of Living Index

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