Iran’s Inflation at 25.8%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period ending Aug. 21, which marks the end of the fifth Iranian month, increased by 25.8% compared with the corresponding period of the last fiscal year, latest data released by the Statistical Center of Iran show.

News ID: ۷۵۰۷۹۳

24 August 2020

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on July 21, at 26.4%.

The consumer inflation for the month under review (July 22-Aug. 21) registered a year-on-year increase of 30.4% compared with the similar month of the previous Iranian year. The year-on-year inflation in the month ending July 21 was 26.9%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 235.9 in Mordad, indicating a 3.5% rise compared with the month before.

SCI put average annual inflation for urban and rural during the month under review at 25.9% and 25.4%, respectively.

CPI registered a year-on-year increase of 30.6% for urban areas and 29.6% for rural areas in the month ending Aug. 21.

The overall CPI reached 234.7 for urban households and 242.5 for rural households, indicating a month-on-month increase of 3.5% and 3.2% 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 Aug. 21 was recorded for “furniture, home appliances and their maintenance” with 5.9% and the lowest monthly growth for “health and treatment” and “communications” groups with 1.7%

The highest and lowest year-on-year inflation in the month under review was posted for transportation (65.1%) and communications (12.5%), and the highest and lowest annual inflation was registered for transportation (47.2%) and communications (6.4%).

Food and Beverage

With a coefficient of 26.64%, the CPI of food and beverage stood at 274.2 in the month ending Aug. 21, indicating a 3.5% increase compared with the month before. The food and beverage index registered a year-on-year increase of 25.8%. The CPI of food and beverage group in the 12-month period ending Aug. 21 increased by 22.4% compared with last year’s corresponding period.

Tobacco

The CPI of tobacco stood at 367.4 last month, indicating a 5.8% 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 31.4%. The annual CPI of tobacco group grew by 12.8% 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 255.4 in the last fiscal month, indicating a 3.3% increase compared with the month before. The clothing and shoes index registered a year-on-year increase of 32.7% during the month under review. The annual CPI of the group increased by 32.9% compared with last year’s corresponding period.

Housing, Water, Electricity, Natural Gas and Other Fuels

The CPI of housing, water, electricity, natural gas and other fuels stood at 189.7 last month, indicating a 2.8% 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 25.8%. The 12-month CPI of housing, water, electricity, natural gas and other fuels group increased by 22.8% 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 302.3 last month, indicating a 5.9% increase compared with the month before. The group’s CPI registered a year-on-year increase of 35.8%. The 12-month CPI of the group increased by 32.1% compared with last year’s corresponding period.

Health and Treatment

CPI of health and treatment group stood at 194.1 last month, indicating a 1.7% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 24.2% compared with the similar month of last year. The health and treatment group’s annual inflation during the month under review grew by 23.6% compared with last year’s corresponding period.

Transportation

With a coefficient of 9.41%, CPI of transportation stood at 298.2 last month, indicating a 5.2% increase compared with the month before. The transportation index registered a year-on-year increase of 65.1%. The annual CPI of the group increased by 47.2% compared with the similar period of the year before.

Communications

CPI of communications stood at 166.1 last month, indicating a 1.7% growth compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 12.5%. The communications group’s annual inflation during the month under review grew by 6.4% compared with the previous year’s corresponding period.

Leisure and Culture

CPI of leisure and culture group stood at 297.8 last month, indicating a 4.7% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 34.3%. Leisure and culture group’s annual inflation during the month under review grew by 30.5% compared with last year’s corresponding period.

Education

With a coefficient of 1.86%, CPI of education group stood at 183.7 last month, indicating a 2.2% rise compared with the month before. The education group’s CPI index registered a year-on-year increase of 23.9%. 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 221.2 last month, indicating a 3.3% growth compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 23.2%. The group’s annual inflation during the month under review grew by 27.4% compared with last year’s corresponding period.

Miscellaneous Items and Services

CPI of the goods and services categorized within the miscellaneous group stood at 262.2 last month, indicating a 3.7% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 33.5%. The group’s annual inflation during the month under review grew by 27% compared with last year’s corresponding period.