Is the cost of living in Panama City high?

"The cost of living in Panama City is generally considered to be quite affordable. Groceries, transportation, and utilities are all relatively inexpensive compared to other cities in the region. Rent prices can vary depending on the area, but are generally lower than in other major cities. Eating out is also relatively affordable, with many restaurants offering meals for a fraction of the cost of similar restaurants in other countries," remarked another expat in Panama City, Panama.