Food Price Changes Reviewed

EghtesadOnline: The Statistical Center of Iran has released a new report reviewing price changes in food products during the month ending June 20.

News ID: ۷۵۰۳۶۲

01 July 2020

The biggest month-on-month price rise for a food item during the month under review was recorded for apples with 24.6%. A kilogram of apples was sold at 141,641 rials (70 cents).

The second and third biggest month-on-month price increase during the period under review was registered for imported rice with 15.8% and chicken with 12.2%, SCI reported.

A kilogram of imported rice was sold at 138,854 rials (69 cents) and a kilogram of chicken went for 124,018 rials (61 cents) last month.

Four out of 24 food items examined by SCI every month saw a price decline in the third Iranian month (May 21-June 20) compared with the month before. The sharpest of such price decline was recorded for onions with 23.5%, followed by tomatoes with 20.8%, potatoes with 19.9% and eggs with 2.2%.

A kilogram of onions was sold at 34,384 rials (17 cents), a kilogram of tomatoes 41,395 rials (cents), a kilogram of potatoes 42,046 rials (20 cents) and a kilogram of eggs went for 108,806 rials (54 cents).

When compared with the same month of the previous year, retail prices for lentils during the month increased by 125.7%, registering the highest year-on-year price rise for a food item last month.

The second and third biggest year-on-year price increase in the same month among food items was registered for foreign packed tea with 76.7% and pinto beans with 63.3%.

A kilogram of lentils was sold at 219,087 rials ($1.08), 500-gram foreign tea pack was sold at 619,168 rials ($3) and a kilogram of pinto beans went for 263,207 rials ($1.3) last month.

Year-on-year price deflations were registered for six food items, but the sharpest of such price decrease was posted for potatoes with 36.6% and onions with 23.7%.

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.

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

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

The 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 the previous Iranian year. The year-on-year inflation of the month ending May 20 was at 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 growths in the index among 12 groups of the basket of consumer goods and services purchased by households in the Iranian month ending June 20 were 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.