Cost of living in Panama City (Panama) is 46% more expensive than in Medellín (Colombia)
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This comparison is based on abundant and consistent data. It is based on 1,394 prices entered by 185 different people.
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Currency:
| Food | + 50% | |||
|---|---|---|---|---|
| Food in Panama City (Panama) is 50% more expensive than in Medellín (Colombia) | ||||
| Update prices | Update prices | |||
| Panama City | Medellín | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 15 B/. (COL$60,562) | COL$33,025 | + 83% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 8 B/. (COL$31,362) | COL$26,600 | + 18% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.60 B/. (COL$14,368) | COL$12,119 | + 19% | |
| 1 liter (1 qt.) of whole fat milk | 2.14 B/. (COL$8,531) | COL$4,413 | + 93% | |
| 12 eggs, large | 3.07 B/. (COL$12,234) | COL$9,860 | + 24% | |
| 1 kg (2 lb.) of tomatoes | 2.33 B/. (COL$9,277) | COL$3,966 | + 134% | |
| 500 gr (16 oz.) of local cheese | 7 B/. (COL$28,158) | COL$13,467 | + 109% | |
| 1 kg (2 lb.) of apples | 2.95 B/. (COL$11,776) | COL$7,938 | + 48% | |
| 1 kg (2 lb.) of potatoes | 2.08 B/. (COL$8,305) | COL$3,733 | + 122% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.34 B/. (COL$5,357) | COL$3,490 | + 54% | |
| 1 bottle of red table wine, good quality | 14 B/. (COL$56,668) | COL$44,891 | + 26% | |
| 2 liters of coca-cola | 2.54 B/. (COL$10,121) | COL$6,427 | + 57% | |
| Bread for 2 people for 1 day | 1.60 B/. (COL$6,365) | COL$4,779 | + 33% | |
| Housing | + 76% | |||
| Housing in Panama City (Panama) is 76% more expensive than in Medellín (Colombia) | ||||
| Update prices | Update prices | |||
| Panama City | Medellín | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,477 B/. (COL$5,892,913) | COL$3,937,990 | + 50% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 881 B/. (COL$3,512,653) | COL$1,890,870 | + 86% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 188 B/. (COL$749,840) | COL$287,730 | + 161% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 1,040 B/. (COL$4,146,742) | COL$2,211,810 | + 87% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 600 B/. (COL$2,391,644) | COL$1,174,150 | + 104% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 88 B/. (COL$349,566) | COL$185,532 | + 88% | |
| Internet 8 mbps (1 month) | 43 B/. (COL$171,396) | COL$78,035 | + 120% | |
| 40” flat screen tv | 351 B/. (COL$1,399,250) | COL$1,325,300 | + 6% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 99 B/. (COL$396,810) | COL$659,896 | - 40% | |
| Laundry detergent (3 l. ~ 100 oz.) | 9 B/. (COL$35,348) | COL$17,998 | + 96% | |
| Hourly rate for cleaning help | 4.57 B/. (COL$18,246) | COL$12,963 | + 41% | |
| Clothes | - 1% | |||
| Clothes in Panama City (Panama) is about the same as in Medellín (Colombia) | ||||
| Update prices | Update prices | |||
| Panama City | Medellín | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 54 B/. (COL$214,705) | COL$201,175 | + 7% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 37 B/. (COL$147,722) | COL$163,394 | - 10% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 90 B/. (COL$357,128) | COL$378,162 | - 6% | |
| 1 pair of men’s leather business shoes | 86 B/. (COL$344,551) | COL$236,775 | + 46% | |
| Transportation | - 4% | |||
| Transportation in Panama City (Panama) is about the same as in Medellín (Colombia) | ||||
| Update prices | Update prices | |||
| Panama City | Medellín | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 19,852 B/. (COL$79,186,584) | COL$75,030,400 | + 6% | |
| 1 liter (1/4 gallon) of gas | 1.20 B/. (COL$4,769) | COL$5,557 | - 14% | |
| Monthly ticket public transport | 31 B/. (COL$121,661) | COL$128,922 | - 6% | |
| Taxi trip on a business day, basic tariff, 8 km. (5 miles) | 8 B/. (COL$33,721) | COL$26,889 | + 25% | |
| Personal Care | + 82% | |||
| Personal Care in Panama City (Panama) is 82% more expensive than in Medellín (Colombia) | ||||
| Update prices | Update prices | |||
| Panama City | Medellín | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 8 B/. (COL$32,365) | COL$18,598 | + 74% | |
| 1 box of antibiotics (12 doses) | 22 B/. (COL$87,342) | COL$19,092 | + 357% | |
| Short visit to private doctor (15 minutes) | 49 B/. (COL$195,036) | COL$110,964 | + 76% | |
| 1 box of 32 tampons (tampax, ob, ...) | 7 B/. (COL$29,400) | COL$18,666 | + 58% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 4.03 B/. (COL$16,076) | COL$14,774 | + 9% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (COL$28,836) | COL$18,318 | + 57% | |
| 4 rolls of toilet paper | 3.45 B/. (COL$13,748) | COL$7,792 | + 76% | |
| Tube of toothpaste | 3.63 B/. (COL$14,496) | COL$5,570 | + 160% | |
| Standard men's haircut in expat area of the city | 17 B/. (COL$65,925) | COL$38,492 | + 71% | |
| Entertainment | + 105% | |||
| Entertainment in Panama City (Panama) is 105% more expensive than in Medellín (Colombia) | ||||
| Update prices | Update prices | |||
| Panama City | Medellín | Diff | ||
| Basic dinner out for two in neighborhood pub | 36 B/. (COL$143,543) | COL$56,609 | + 154% | |
| 2 tickets to the movies | 14 B/. (COL$54,866) | COL$37,471 | + 46% | |
| 2 tickets to the theater (best available seats) | 45 B/. (COL$180,761) | COL$93,057 | + 94% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 57 B/. (COL$228,731) | COL$114,366 | + 100% | |
| 1 cocktail drink in downtown club | 10 B/. (COL$37,905) | COL$29,870 | + 27% | |
| Cappuccino in expat area of the city | 5.71 B/. (COL$22,778) | COL$8,825 | + 158% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 2.84 B/. (COL$11,324) | COL$6,452 | + 76% | |
| Ipad wi-fi 128gb | 680 B/. (COL$2,713,272) | COL$2,774,750 | - 2% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.32 B/. (COL$1,293) | COL$173 | + 648% | |
| 1 month of gym membership in business district | 51 B/. (COL$203,274) | COL$147,431 | + 38% | |
| 1 package of marlboro cigarettes | 5.90 B/. (COL$23,543) | COL$10,536 | + 123% | |
 |
TOTAL | + 46% | ||
These prices were last updated on December 11, 2023.
Exchange rate:
3988.786
COP
/
PAB
This comparison is based on abundant and consistent data. It is based on 1,394 prices entered by 185 different people.
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