Consumer Inflation at 27.8%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period that ended on June 20 increased by 27.8% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.

News ID: ۷۵۰۳۰۳

23 June 2020

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on May 20, at 29.8%.

Consumer inflation for the month under review (May 21-June 20) registered a year-on-year increase of 22.5% compared with the similar month of previous Iranian year. The year-on-year inflation of the month ending May 20 reached 21%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 214.2 for the month, indicating a 2% rise compared with the month before.

CPI registered a year-on-year increase of 22.7% for urban areas and 21.1% for rural areas in the month ending June 20.

The overall CPI reached 212.8 for urban households and 221.9 for rural households, indicating a month-on-month increase of 2% and 2.2% for urban and rural areas, respectively.

SCI put average annual inflation for urban and rural areas at 27.7% and 28.2% respectively.

The highest and lowest monthly growth in the index among 12 groups of the basket of consumer goods and services purchased by households in the Iranian month ending June 20 was recorded for “leisure and culture” and “education” with 3.6% and 0.3%, respectively.

The highest and lowest year-on-year inflation in the month ending June 20 was posted for transportation with 48.6% and communications with 7% and the highest and lowest average annual inflation was registered for transportation with 45.1% and communications with 8.7% respectively.

Food and Beverage

With a coefficient of 26.64%, the CPI of food and beverage stood at 248.4 in the month ending June 20, indicating a 2.4% increase compared with the month before. The food and beverage index registered a year-on-year increase of 14.9%. The CPI of food and beverage group in the 12-month period ending June 20 increased by 27.4% compared with last year’s corresponding period.

Tobacco

CPI of tobacco stood at 324.6 last month, indicating a 2.7% rise compared with the month before. The tobacco index, which has minimum impact on total inflation rate with a coefficient of 0.59%, registered a year-on-year increase of 16%. The annual CPI of tobacco group grew by 14.5% compared with the corresponding period of the year before.

Clothing and Shoes

With a coefficient of 4.78%, CPI of clothing and shoes stood at 235.9 in the last fiscal month, indicating a 2.7% increase compared with the month before. The clothing and shoes index registered a year-on-year increase of 28% during the month under review. The annual CPI of the group increased by 36.3% compared with last year’s corresponding period.

Housing, Water, Electricity, Natural Gas and Other Fuels

CPI of housing, water, electricity, natural gas and other fuels stood at 172.7 last month, indicating a 1.4% increase compared with the month before. The group’s CPI index, which has the biggest impact on total inflation rate with a coefficient of 35.5%, registered a year-on-year increase of 21.7%. The 12-month CPI of housing, water, electricity, natural gas and other fuels group increased by 22.6% compared with last year’s corresponding period.

Furniture, Home Appliances and Their Maintenance

With a coefficient of 3.93%, CPI of furniture, home appliances and their maintenance stood at 268.1 last month, indicating a 3.4% increase compared with the month before. The group’s CPI registered a year-on-year increase of 26.6%. The 12-month CPI of the group increased by 37% compared with last year’s corresponding period.

Health and Treatment

CPI of health and treatment group stood at 181.2 last month, indicating a 3.1% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 24% compared with the similar month of last year. The health and treatment group’s annual inflation during the month under review grew by 24.4% compared with last year’s corresponding period.

Transportation

With a coefficient of 9.41%, CPI of transportation stood at 265% last month, indicating a 0.5% increase compared with the month before. The transportation index registered a year-on-year increase of 48.6%. The annual CPI of the group increased by 45.1% compared with the similar period of the year before.

Communications

CPI of communications stood at 157.6 last month, indicating a 1% growth compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 7%. The communications group’s annual inflation during the month under review grew by 8.7% compared with the previous year’s corresponding period.

Leisure and Culture

CPI of leisure and culture group stood at 265.8 last month, indicating a 3.6% rise compared with the month before. The index, with a coefficient of 1.65%, registered a YOY increase of 26.5%. Leisure and culture group’s annual inflation during the month under review grew by 34.9% compared with last year’s corresponding period.

Education

With a coefficient of 1.86%, CPI of education group stood at 174 last month, indicating a 0.3% rise compared with the month before. The education group’s CPI index registered a year-on-year increase of 20.4%. The annual CPI of the group increased by 21.5% compared with last year’s corresponding period.

Hotels and Restaurants

CPI of hotels and restaurants stood at 201.5 last month, indicating a 2.5% growth compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 17.9%. The group’s annual inflation during the month under review grew by 31.6% compared with last year’s corresponding period.

Miscellaneous Items and Services

CPI of the goods and services categorized within the miscellaneous group stood at 239 last month, indicating a 3.1% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 25.3%. The group’s annual inflation during the month under review grew by 29.4% compared with last year’s corresponding period.