Iran PPI Inflation at 63.3% Year-on-Year

EghtesadOnline: An increase of 63.3% was registered in the Producer Price Index in the Iranian calendar month of Aban (Oct. 23-Nov. 21) compared with the similar month of last year, the latest report released by the Central Bank of Iran shows.

News ID: ۷۴۶۲۸۸

03 December 2018

The PPI (using the Iranian year to March 2017 as the base year) stood at 182.1 in Aban, indicating a 3.5% rise compared with the previous month.

The average PPI in the 12 months ending November 21 grew by 26.9% compared with last year’s corresponding period.

The CBI put the preceding month’s annual PPI inflation at 22.4%, Financial Tribune reported.

Out of eight main groups, the 'education' group registered the highest month-on-month growth in PPI with 4.8%. The index for the group saw a year-on-year increase of 23.6%.

The “agriculture, forestry and fishing” group's PPI posted a month-on-month rise of 4.2% and a YOY increase of 52.4%.

The PPI for the “industry” group increased by 3.5% in Aban compared to the month before as it grew by 87.7% compared to last year's similar month – the highest year-on-year rise among all groups.

The “transportation and warehousing” group had a month-on-month PPI rise of 3.8% and a YOY increase of 55.1%.

The “hotel and restaurant” group’s PPI increase was 3.5% in Aban compared to the month before and rose by 31.7% compared to last year's corresponding month.

The “health and social work” group recorded a monthly rise of 1.4% in its PPI and a YOY increase of 17.7%.

The group categorized as “other public, social, and individual services” registered a monthly rise of 1.9% and a YOY rise of 22%.

The index for the “information and communications” group remained unchanged in Aban compared with the preceding month but registered a 0.7% increase compared with the same month of the last year – the slowest growth among all groups.

The monthly PPI growth for the “services” group stood at 3% while its YOY inflation was at 36.1%.

The importance of PPI lies in its predictive content for the future pattern of Consumer Price Index. Changes in PPI are usually reflected in CPI within a short period of time.

The goods and services Consumer Price Index for urban areas for the Iranian calendar month Aban, increased by 39.9% compared to the similar month of last year, according to the CBI’s latest report.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 153.6 in Aban, indicating a 3.5% increase compared with the previous month.

The average CPI in the 12 months ending November 21 increased by 18.4% compared with last year’s corresponding period.