Iran: SCI Reviews Retail Price Changes of Food Products

EghtesadOnline: The Statistical Center of Iran has published its latest report on price changes of food products during the fifth month of the current Iranian year (March 21-Aug. 22).

News ID: ۷۴۸۳۰۶

31 August 2019

The report shows the biggest month-on-month price rise for a food item in urban areas during the month was recorded for packed foreign teas with 29.9%. A kilogram of packed foreign teas was sold at 500,748 rials ($4.5).

The second and third biggest month-on-month price hikes during the period under review were registered for chicken with 14.9% and oranges with 10.3%, SCI reported.

A kilogram of chicken was sold at 145,118 rials ($1.3) and a kilogram of oranges went for 118,239 rials ($1.06) last month, Financial Tribune reported.

The retail prices for potatoes during the month increased by 267.8% compared with the same month of last year. A kilogram of potatoes were sold at 61,438 rials (55.3 cents) to register the highest year-on-year price rise for a food item last month.

The second and third biggest year-on-year price hikes in the same month among food items were registered for tomato paste with 200.8% and beef with 91.3%.

A kilogram of tomato paste and beef was sold at 219,093 rials ($1.9) and 893,572 rials ($8) respectively during the period.

In the fifth Iranian month (July 23-Aug. 22), prices of potatoes posted a decline of 21.2% when compared with the month before. Tomato and onion also experienced an MOM deflation of 17.1% and 12.9% respectively.

A kilogram of tomatoes was sold at 35,476 rials (32 cents) and a kilogram of onions went for 30,718 rials (27.6 cents).

The Consumer Price Index of “food and beverages” stood at 217.9 in the month ending Aug. 22, indicating a 0.5% decrease compared with the month before.

The “food and beverages” index registered a year-on-year increase of 57.4% compared with the similar month of last year.

CPI of “food and beverages” group in the 12-month period ending Aug. 22 increased by 62.2% compared with last year’s corresponding period, the SCI reported.

The overall goods and services Consumer Price Index in the same period increased by 42.2% compared with last year’s corresponding period, SCI's latest report shows.

SCI had put the average 12-month inflation rate for the preceding Iranian month, which ended on July 22, at 40.4%.

Consumer prices registered a year-on-year increase of 41.6% in the month ending Aug. 22, compared with the similar month of last year.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 180.8 in the fifth month of the Iranian year, indicating a 0.6% rise compared with the previous month.

Year-on-year and annual consumer price inflation measured for rural areas indicate higher rates than those in urban areas.

The index registered a year-on-year increase of 40.8% for urban areas and a 46.1% rise for rural areas compared with the similar month of last year.

The overall CPI reached 179.7 for urban households and 187.1 for rural households, indicating an increase of 0.7% for urban areas and 0.3% for rural areas compared with the previous month.

SCI put urban and rural 12-month inflation for the month under review at 41.4% and 46.6% respectively.