Central Bank: PPI Inflation at 10.2%
EghtesadOnline: The average Producer Price Index in the 12 months ending Feb. 19, which marks the end of the Iranian month of Bahman, increased by 10.2% compared with last year’s corresponding period, the latest report by the Central Bank of Iran announced.
CBI put the preceding month’s PPI inflation at 9.9%. A year-on-year increase of 11.9% was registered in the index compared with the similar month of last year. PPI (using Iranian year to March 2012) stood at 261.6 in Bahman, indicating a 1.1% rise compared with the previous month. The importance of PPI lies in its predictive content for the future pattern of Consumer Price Index. Changes in PPI are usually reflected in Consumer Price Index within a short period of time. PPI gauges the price fluctuations of goods and services for the producer whereas CPI measures changes in the price level of a basket of consumer goods and services purchased by households. According to CBI’s latest report, the overall goods and services Consumer Price Index for urban areas (using the Iranian year to March 2017 as the base year) stood at 113.4 in Bahman, which indicates a 0.9% increase compared with the previous month, according to Financial Tribune.