Iran's Monthly Consumer Inflation Declines to 18-Month Low

EghtesadOnline: The monthly goods and services Consumer Price Index growth fell to an 18-month low in the sixth month of the Iranian year (ended Sept. 22), latest data released by the Statistical Center of Iran show.

News ID: ۷۴۸۵۳۳

25 September 2019

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 181.7 last month, indicating a 0.5% rise compared with the month before.

Consumer inflation registered a year-on-year increase of 35% in the Iranian month ending Sept. 22 compared with the corresponding month of last year, SCI said.

The average goods and services Consumer Price Index in the 12-month period ending Sept. 22 increased by 42.7% compared with last year’s corresponding period. SCI had put the annual inflation rate for the preceding Iranian month, which ended on Aug. 22 at 42.2%, according to Financial Tribune.

The index registered a year-on-year increase of 34.5% for urban areas and 38.1% for rural areas compared with the similar month of last year.

The overall CPI reached 180.8 for urban households and 187.1 for rural households, indicating an increase of 0.6% for urban areas but no change for rural areas compared with the previous month.

SCI put urban and rural 12-month inflation for the month under the review at 41.9% and 47.4%.

Last month, price drops were registered in four out of 12 items and services basket, namely “foods and beverages”, “tobacco”, “transportation” and “communications” compared with the month before.

The highest monthly inflation in the country among 12 goods and services groups in the Iranian month was recorded for the “housing, water, electricity, natural gas and other fuels” with a 2.4% increase.

“Health and treatment” posted the lowest inflation of 0.8% compared with other groups.

Food and Beverages

With a coefficient of 26.64%, the Consumer Price Index of “food and beverages” stood at 214.9 in the month ending Sept. 22, indicating a 1.4% decrease compared with the month before.

The index registered a year-on-year increase of 46% compared with the similar month of last year.

The CPI of “food and beverages” group in the 12-month period ending Sept. 22 increased by 62.6% compared with last year’s corresponding period, the SCI reported.

Tobacco

The CPI of “tobacco” stood at 278.4 last month, indicating a 0.4% decrease compared with the month before.

The “tobacco” index, which has the minimum impact on total inflation rate with a coefficient of 0.59%, registered a year-on-year increase of 21.8%.

The CPI of “tobacco” group in the same 12-month period increased by 99.2% compared with last year’s corresponding period, which was the highest annual inflation registered among 12 groups of goods and services.

Clothing and Shoes

With a coefficient of 4.78%, the CPI of “clothing and shoes” stood at 196.5% last month, indicating a 2.1% increase compared with the month before.

The “clothing and shoes” index registered a year-on-year increase of 47.2% in the month under review. The annual CPI of the group increased by 51.5% compared with last year’s corresponding period.

Housing, Water, Electricity, Natural Gas and Other Fuels

The CPI of “housing, water, electricity, natural gas and other fuels” stood at 154.4 last month, indicating a 2.4% increase compared with the month before.

The group’s CPI index, which has the biggest impact on total inflation rate with a top coefficient of 35.5%, registered a year-on-year increase of 24.1%.

The CPI of “housing, water, electricity, natural gas and other fuels” group in the 12-month period ending Sept. 22 increased by 23.5% compared with last year’s corresponding period.

Furniture, Home Appliances and Their Maintenance

With a coefficient of 3.93%, the CPI of “furniture, home appliances and their maintenance” stood at 225.9% last month, indicating a 1.5% increase compared with the month before.

The group’s CPI index registered the highest year-on-year increase in the items and services basket with 57.1%. The annual CPI of the group increased by 71.6% compared with last year’s corresponding period.

Health and Treatment

The CPI of “health and treatment” stood at 157.6 last month, indicating a 0.8% increase compared with the month before. The index, with a coefficient of 7.14%, registered a year-on-year increase of 27% compared with the similar month of last year. The annual inflation of “health and treatment” group during the month grew by 25.4% compared with last year’s corresponding period.

Transportation

With a coefficient of 9.41%, the CPI of “transportation” stood at 178.8% last month, indicating a 1% decrease compared with the month before. The “transportation” index registered a year-on-year increase of 29.8%. The annual CPI of the group increased by 45.6% compared with last year’s corresponding period.

Communications

The CPI of “communications” stood at 146.3 last month, indicating a 0.9% decline compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 21%. The annual inflation of “communications” group during the month under review grew by 34.2% compared with last year’s corresponding period.

Leisure and Culture

The CPI of “leisure and culture” group stood at 225.5 last month, indicating a 1.7% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 50.3%. The group’s annual inflation during the month under review grew by 67.2% compared with last year’s corresponding period.

Education

With a coefficient of 1.86%, the CPI of “education” stood at 151.6% last month, indicating a 2.3% increase compared with the month before. The “education” CPI index registered a year-on-year increase of 24.7%. The annual CPI of the group increased by 22% compared with last year’s corresponding period.

Hotels and Restaurants

The CPI of “hotels and restaurants” stood at 182.1 last month, indicating a 1.4% growth compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 44.7%. The group’s annual inflation during the month under review grew by 40.9% compared with last year’s corresponding period.

Other Items and Services

The CPI of goods and services categorized within “other items and services” stood at 198.2 last month, indicating a 0.9% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 39.3%. The group’s annual inflation during the month under review grew by 51.4% compared with last year’s corresponding period.