SCI Surveys Latest Inflation Rates for Income Deciles in Iran

EghtesadOnline: The average annual inflation gap measured by the Statistical Center of Iran among income deciles increased by 0.1% to reach 2.9% in the second Iranian month (April 21-May 21) compared with the previous month’s 2.8%.

News ID: ۷۴۷۴۴۶

29 May 2019

The average goods and services Consumer Price Index in the 12-month period ending May 21 increased by 33.7% for the first decile (those with the lowest income) whereas it rose by 36.6% for the 10th decile (those with the highest income).

The second, fourth and fifth deciles saw their 12-month average inflation rates grow by 34.8% compared with last year’s corresponding period.

The annual inflation rate for the third decile increased by 34.9% in the same month, the sixth decile 34.6%, the seventh decile 35.2%, the eighth 35.3% and the ninth decile 35.6%, according to Financial Tribune.

The highest overall CPI (using the Iranian year to March 2017 as the base year) stood at 178.1 for the 10th decile, and the lowest index was 173.6 for the first decile.

The year-on-year inflation rates increased by 52.5% for the first decile during the month under review, 53.6% for second, 53.1% for third, 53% for fourth, 52.7% for fifth, 52.2% for sixth, 53% for seventh, 53.1% for eighth, 53.8% for ninth and 55.9% for the 10th decile

Income deciles are groupings that result from ranking either all households or all persons in the population in the ascending order according to income, and then dividing the population into 10 groups, each comprising approximately 10% of the estimated population.

Regardless of income deciles, the consumer inflation registered a year-on-year increase of 52.1% month-on-month, the Statistical Center of Iran reported.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 173.5 in Ordibehesht, indicating a 1.5% rise compared with the previous month.

The average goods and services Consumer Price Index in the 12-month period ending May 21 increased by 34.2% compared with last year’s corresponding period.

SCI had put the inflation rate for the preceding Iranian month, which ended on April 20, at 30.6%.

Year-on-year and annual consumer price inflation measured for rural areas indicate a higher rate than those in urban areas last month. The index registered a year-on-year increase of 50.7% for urban areas and 59.6% for rural areas compared with the similar month of last year.

The overall CPI reached 172 for urban households and 181.9 for rural households, indicating an increase of 1.6% for urban areas and 1% for rural areas compared with the previous month.

SCI put urban and rural 12-month inflation for Ordibehesht at 33.7% and 37.1% respectively.