Hotels, Restaurants Inflation at 31.6%

EghtesadOnline: The average Consumer Price Index of hotels and restaurants in the 12-month period ending June 20, which marks the end of the third Iranian month, grew by 31.6% compared with last year’s corresponding period.

News ID: ۷۵۰۴۰۲

06 July 2020

The CPI of the group among 12 groups of the basket of consumer goods and services purchased by households stood at 201.5 for the month under review, 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 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 previous month.

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.

Restaurants and hotels have been among the hardest hit businesses, following the outbreak of the new coronavirus.