Food Inflation Rates Reviewed

EghtesadOnline: The Statistical Center of Iran has released a new report, reviewing the price changes in food products during the fifth month of the current Iranian year (July 22-Aug. 21).

News ID: ۷۵۰۸۷۶

03 September 2020

The biggest month-on-month price rise for a food item during the month under review in urban areas was recorded for oranges with 43.7%.

A kilogram of oranges averaged 199,604 rials (82 cents).

The second and third biggest month-on-month price increase during the period was registered for bananas with 21% and cheese with 12.6%, the Statistical Center of Iran reported.

A kilogram of bananas was sold at an average of 173,807 rials (72 cents) and 500 grams of cheese went for 134,136 rials (55 cents) last month.

Four out of 24 food items examined by SCI every month saw a price decline in the fifth Iranian month (compared with the previous month). The sharpest of such price decline was recorded for eggs with 11%, followed by apples with 10.1%, tomatoes with 5.1% and potatoes with 2.6%.

A kilogram of eggs was sold at an average of 137,275 rials (57 cents), a kilogram of apples went for 133,973 rials (55 cents), tomatoes for 37,310 rials (15 cents) and potatoes for 39,997 rials (16 cents).

When compared with the same month of the previous year, retail prices for lentils during the month increased by 136.1%, registering the highest year-on-year price rise for a food item last month.

The second and third biggest year-on-year price rises in the same month among food items were registered for imported rice with 108.5% and oranges with 68.8%.

A kilogram of lentils was sold at an average of 232,373 rials (96 cents) and a kilogram of imported rice went for 181,331 rials (75 cents).

The sharpest year-on-year price deflations were registered for three food items: potatoes with 34.9%, tomato paste 20.3% and beef 2.4%.

A kilogram of tomato paste was sold at an average of 174,512 rials (72 cents) and a kilogram of beef went for 872,242 rials ($3.6).

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 beverages index registered a YOY increase of 25.8%. The CPI of food and beverages group in the 12-month period ending Aug. 21 increased by 22.4% YOY.

The overall average goods and services Consumer Price Index in the 12-month period ending Aug. 21 increased by 25.8% compared with the corresponding period of last year.

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

Consumer inflation for the month under review registered a YOY increase of 30.4% compared with the similar month of the previous Iranian year. The YOY inflation of the month ending July 21 has been put at 26.9%.

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

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

The CPI registered a YOY 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.