Iran's Housing Inflation Well Below Average CPI Growth

EghtesadOnline: The consumer price index for the housing sector registered a year-on-year increase of 24.8% in the first Iranian month (March 21-April 20) compared with the similar month of last year.

News ID: ۷۴۷۳۳۳

14 May 2019

The index stood at 140.3 for the month, indicating a 1.7% rise compared with the previous month, the Statistical Center of Iran reported.

The average index for the 12-month period ending April 20 increased by 19.7% year-on-year, SCI said.

The housing CPI for urban and rural areas stood at 140.9 and 132.1, indicating an increase of 1.8% and 1.7% respectively, according to Financial Tribune.

The year-on-year increases for urban and rural areas stood at 25.2% and 18.8% respectively.

As for average 12-month inflation, they stood at 20.1% and 14.5% respectively.

CPI of “tenancy” group stood at 140.2, indicating a 1.7% rise compared with the previous month.

The “tenancy” consumer price index registered a year-on-year increase of 24.7% compared with the similar month of last year.

In the year ending April 20, the index increased 19.7% YOY.

The index for urban and rural areas increased by 25.1% and 18.7% YOY, as the annual average inflation were put at 20.1% and 14.6% respectively.

CPI of “tenancy” hit 140.8 for urban households and 132.2 for rural households, indicating an increase of 1.7% and 1.6% respectively compared with the previous month.

The inflation rates cited for the housing sector are markedly below the overall rate reported for the month under review.

The overall consumer inflation in Iran registered a year-on-year increase of 51.4% in the month to April 20 compared with the similar month of last year.

The CPI (using the Iranian year to March 2017 as the base year) stood at 170.9, indicating a 4% rise compared with the previous month.

The average goods and services CPI in the 12 months ending April 20 increased by 30.6% YOY.

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on March 20, at 26.9%.

Consumer price inflation in rural areas has been persisting at a higher rate than that in urban areas. The index registered a year-on-year increase of 50% for urban areas and 59.4% for rural areas compared with the similar month of last year.

The overall CPI reached 169.3 for urban households and 180.1 for rural households, indicating an increase of 3.7% for urban areas and 5.8% for rural areas compared with the previous month.

SCI put average annual inflation for urban and rural areas at 30.2% and 32.6% respectively.