Consumer Inflation at 26.4%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period ending July 21, which marks the end of the fourth Iranian month, increased by 26.4% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.

News ID: ۷۵۰۵۲۳

25 July 2020

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on June 20, at 27.8%.

The consumer inflation for the month under review (June 21-July 21) registered a year-on-year increase of 26.9% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending June 20 was 22.5%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 227.9 last month, indicating a 6.4% rise compared with the month before.

SCI put the average annual urban and rural inflation for the month under review at 26.4%.

CPI registered a year-on-year increase of 27% for urban areas and 25.9% for rural areas in the month ending July 21.

The overall CPI stood at 226.7 for urban households and 234.9 for rural households, indicating a month-on-month increase of 6.5% and 5.9% for urban and rural areas, respectively.

The highest monthly growth in the index among 12 groups of the basket of consumer goods and services purchased by households in the Iranian month ending July 21 was recorded for three groups of “tobacco”, “transportation” and “leisure and culture” with 7% and the lowest monthly growth for “education” with 3.3%

The highest and lowest year-on-year inflation in the month under review was posted for transportation (55.9%) and communications (10.3%), and the highest and lowest average annual inflation was registered for transportation (45.4%) and communications (7.3%).

Food and Beverage

With a coefficient of 26.64%, the CPI of food and beverage stood at 264.9 in the month ending July 21, indicating a 6.7% increase compared with the month before. The food and beverage index registered a year-on-year increase of 20.9%. The CPI of food and beverage group in the 12-month period ending July 21 increased by 24.2% compared with last year’s corresponding period.

Tobacco

CPI of tobacco stood at 347.3 last month, indicating a 7% 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 23.8%. The annual CPI of tobacco group grew by 12.5% 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 247.3 in the last fiscal month, indicating a 4.8% increase compared with the month before. The clothing and shoes index registered a year-on-year increase of 31% during the month under review. The annual CPI of the group increased by 34.4% 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 184.6 last month, indicating a 6.9% 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 24.6%. The 12-month CPI of housing, water, electricity, natural gas and other fuels group increased by 22.7% 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 285.4 last month, indicating a 6.4% increase compared with the month before. The group’s CPI registered a year-on-year increase of 31.2%. The 12-month CPI of the group increased by 34.1% compared with last year’s corresponding period.

Health and Treatment

CPI of health and treatment group stood at 190.8 last month, indicating a 5.3% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 23.3% compared with the similar month of last year. The health and treatment group’s annual inflation during the month under review grew by 23.9% compared with last year’s corresponding period.

Transportation

With a coefficient of 9.41%, CPI of transportation stood at 283.5 last month, indicating a 7% increase compared with the month before. The transportation index registered a year-on-year increase of 55.9%. The annual CPI of the group increased by 45.4% compared with the similar period of the year before.

Communications

CPI of communications stood at 163.4 last month, indicating a 3.7% growth compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 10.3%. The communications group’s annual inflation during the month under review grew by 7.3% compared with the previous year’s corresponding period.

Leisure and Culture

CPI of leisure and culture group stood at 284.4 last month, indicating a 7% rise compared with the month before. The index, with a coefficient of 1.65%, registered a YOY increase of 30.1%. Leisure and culture group’s annual inflation during the month under review grew by 32.2% compared with last year’s corresponding period.

Education

With a coefficient of 1.86%, CPI of education group stood at 179.8 last month, indicating a 3.3% rise compared with the month before. The education group’s CPI index registered a year-on-year increase of 22%. 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 214.2 last month, indicating a 6.3% growth compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 21.3%. The group’s annual inflation during the month under review grew by 29.3% compared with last year’s corresponding period.

Miscellaneous Items and Services

CPI of the goods and services categorized within the miscellaneous group stood at 252.7 last month, indicating a 5.8% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 29.8%. The group’s annual inflation during the month under review grew by 27.8% compared with last year’s corresponding period.