‘Transport’ Registers Highest Inflation
EghtesadOnline: The average goods and services Consumer Price Index of “Transportation” in the 12-month period ending Aug. 22, which marks the end of the fifth Iranian month of the fiscal 2021-22, increased by 61.3% compared with the similar period of the year before, latest data released by the Statistical Center of Iran show.
This marks the highest inflation among 12 groups of the basket of consumer goods and services purchased by households.
With a coefficient of 9.41%, the CPI of the group stood at 430.3 for the month to Aug. 22, indicating a 3.6% increase compared with the month before.
The “Transport” index registered a year-on-year increase of 44.3%.
The overall annualized inflation rate in Iran has reached a record high, as the average goods and services Consumer Price Index in the 12-month period ending Aug. 22 increased by 45.2% compared with the corresponding period of the year before.
The rate is an all-time high since the fiscal 2017-18 when the earliest statistics on CPI in Iran were recorded on SCI’s database.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on July 22, at 44.2%.
The consumer inflation for the month under review (July 23-Aug. 22) registered an increase of 43.2% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending July 22 was 43.6%.
The overall CPI (using the Iranian year to March 2017 as the base year) stood at 337.8 for the month to Aug. 22, indicating a 3.2% rise compared with the month before. Month-on-month consumer inflation was 3.5% for the preceding month.
SCI put average inflation for urban and rural areas at 44.5% and 48.7%, respectively.
CPI registered a year-on-year increase of 42.4% for urban areas and 47.7% for rural areas in the month ending Aug. 22.
The overall CPI reached 334.1 for urban households and 358.1 for rural households, indicating a month-on-month growth of 3.2% for each.