Iran's Average Inflation Rate Dips to 40%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period ending Dec. 21, which marks the last day of the ninth Iranian month, increased by 40% compared with last year’s corresponding period, latest data released by the Statistical Center of Iran show.

News ID: ۷۴۹۲۶۸

23 December 2019

SCI had put the annual inflation rate for the preceding Iranian month that ended on Nov. 21 at 41.1%.

The consumer inflation for the month under review (Nov. 22-Dec. 21) registered a year-on-year increase of 27.8% compared with the similar month of last year.

The overall Consumer Price Index (using the Iranian year to March 2017 as the base year) stood at 193.8 last month, indicating a 3.2% rise compared with the month before, Financial Tribune reported.

CPI registered a YOY increase of 27.6% for urban areas and 28.9% for rural areas compared with the similar month of last year.

The overall CPI reached 192.6 for urban households and 200.1 for rural households, indicating a month-on-month increase of 3% and 4.2% for urban and rural areas, respectively.

SCI put urban and rural 12-month inflation for the month under review at 39.3% and 43.8%.

The highest monthly growth in the index among 12 groups in the basket of consumer goods and services purchased by households in the Iranian month ending Dec. 21 was recorded for “transportation” with 14.7% and the lowest was posted for “education” with 0.1%.

Foods & Beverages

With the coefficient of 26.64%, the Consumer Price Index of “food and beverages” stood at 224.7 in the month ending Dec. 21, indicating a 4.2% increase compared with the month before.

The “food and beverages” index registered a YOY increase of 28.7% compared with the similar month of last year.

CPI of “food and beverages” group in the 12-month period ending Dec. 21 increased by 55.7% compared with last year’s corresponding period.

Tobacco

CPI of “tobacco” stood at 281.9 last month, indicating a 0.9% rise 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 6%.

CPI of “tobacco” group in the 12-month period leading to Dec. 21 grew 53.4% compared with last year’s corresponding period.

Clothing & Shoes

With a coefficient of 4.78%, CPI of “clothing and shoes” stood at 207.8 last month, indicating a 1.9% increase compared with the month before.

The “clothing and shoes” index registered a year-on-year increase of 34.5% during the month under review. The annual CPI of the group increased by 49.5% compared with last year’s corresponding period.

Housing, Water, Electricity, Natural Gas & Other Fuels

CPI of “housing, water, electricity, natural gas and other fuels” stood at 164 last month, indicating a 0.4% increase compared with the month before.

The group’s CPI index, which has the greatest impact on total inflation rate with a coefficient of 35.5%, registered a YOY increase of 22.5%.

The 12-month CPI of “housing, water, electricity, natural gas and other fuels” group increased by 24.1% compared with last year’s corresponding period.

Furniture, Home Appliances & Their Maintenance

With a coefficient of 3.93%, CPI of “furniture, home appliances and their maintenance” stood at 234.5 last month, indicating a 1.4% increase compared with the month before.

The group’s CPI registered a YOY increase of 31.3%. The 12-month CPI of the group increased by 62.3% compared with last year’s corresponding period.

Health & Treatment

CPI of “health and treatment” stood at 165.5 last month, indicating a 1.4% increase compared with the month before. The index, with a coefficient of 7.14%, registered a YOY increase of 24.7% compared with the similar month of last year.

The annual inflation of “health and treatment” during the month under review grew by 26.4% compared with last year’s corresponding period.

Transportation

With a coefficient of 9.41%, CPI of “transportation” stood at 218.1% last month, indicating a 14.7% increase compared with the month before. The “transportation” index registered a YOY increase of 50.2%. The annual CPI of the group increased by 45.5% compared with last year’s corresponding period.

Communications

CPI of “communications” stood at 146.1 last month, indicating a 0.7% growth compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 2.8%. The annual inflation of “communications” during the month under review grew by 23.8% compared with last year’s corresponding period.

Leisure & Culture

CPI of “leisure and culture” group stood at 233.5 last month, indicating a 1.1% rise compared with the month before. The index, with coefficient of 1.65%, registered a YOY increase of 29.5%. The annual inflation of “leisure and culture” during the month under review grew by 56.3% compared with last year’s corresponding period.

Education

With a coefficient of 1.86%, CPI of “education” stood at 171.4 last month, indicating a 0.1% increase compared with the month before. CPI of “education” registered a YOY increase of 21.3%. The annual CPI of the group increased by 22.2% compared with last year’s corresponding period.

Hotels & Restaurants

CPI of “hotels and restaurants” stood at 188.9 last month, indicating a 1% growth compared with the month before. The index, with a coefficient of 1.44%, registered a YOY increase of 35.3%. The group’s annual inflation during the month under review grew by 42.7% compared with last year’s corresponding period.

Miscellaneous Items & Services

CPI of goods and services categorized within “miscellaneous” stood at 205.2 last month, indicating a 1.5% growth compared with the month before. The index, with a coefficient of 4.18%, posted a YOY increase of 25.7%. The group’s annual inflation during the month under review grew by 44.5% compared with last year’s corresponding period.