Consumer Inflation Hits 26%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period ending Sept. 21, which marks the end of the sixth Iranian month, increased by 26% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.

News ID: ۷۵۱۰۷۴

23 September 2020

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Aug. 21, at 25.8%.

Consumer inflation for the month under review (Aug. 22-Sept. 21) registered an increase of 34.4% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Aug. 21 was 30.4%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 244.3 last month, indicating a 3.6% rise compared with the previous month. Month-on-month consumer inflation was 3.5% for the preceding month (July 22-Aug. 21).

SCI put average annual inflation for urban and rural areas at 26.1% and 25.4%, respectively.

The year-on-year CPI registered 34.5% for urban areas and 34.1% for rural areas in the month ending Sept. 21.

The overall CPI reached 243.1 for urban households and 251 for rural households, indicating a month-on-month increase of 3.6% and 3.5% 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 Sept. 21 was recorded for transportation with 8.4% and the lowest monthly growth for tobacco with 1.4%

The highest and lowest year-on-year inflation in the month under review was posted for transportation (80.8%) and communications (16.8%), and the highest and lowest average annual inflation was registered for transportation (51.5%) and communications (6.2%), respectively.

Food and Beverages

With a coefficient of 26.64%, the CPI of food and beverages stood at 282.5 in the month ending Sept. 21, indicating a 3% increase compared with the month before. The food and beverages index registered a year-on-year increase of 31.4%. The CPI of food and beverages group in the 12-month period ending Sept. 21 increased by 21.7% compared with last year’s corresponding period.

Tobacco

CPI of tobacco stood at 372.3 last month, indicating a 1.4% 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 33.7%. The annual CPI of tobacco group grew by 13.9% 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 264.2 in the last fiscal month, indicating a 3.4% increase compared with the month before.

The clothing and shoes index registered a year-on-year increase of 34.4% during the month under review. The annual CPI of the group increased by 32.1% 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 194.8 last month, indicating a 2.7% 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 26.2%.

The 12-month CPI of this group increased by 23.1% 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 314.8 last month, indicating a 4.1% increase compared with the month before. The group’s CPI registered a year-on-year increase of 39.4%. The 12-month CPI of the group increased by 31.3% compared with last year’s corresponding period.

Health and Treatment

CPI of health and treatment group stood at 198.4 last month, indicating a 2.2% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 25.9% 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 323.2 last month, indicating an 8.4% increase compared with the month before. The transportation index registered a year-on-year increase of 80.8%. The annual CPI of the group increased by 51.5% compared with the similar period of the year before.

Communications

CPI of communications stood at 170.9 last month, indicating a 2.9% growth compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 16.8%. The communications group’s annual inflation during the month under review grew by 6.2% compared with the previous year’s corresponding period.

Leisure and Culture

CPI of leisure and culture group stood at 310.3 last month, indicating a 4.2% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 37.6%. Leisure and culture group’s annual inflation during the month under review grew by 29.9% compared with last year’s corresponding period.

Education

With a coefficient of 1.86%, CPI of education group stood at 190.2 last month, indicating a 3.5% rise compared with the month before. The education group’s CPI index registered a year-on-year increase of 25.4%. The annual CPI of the group increased by 21.7% compared with last year’s corresponding period.

Hotels and Restaurants

CPI of hotels and restaurants stood at 227 last month, indicating a 2.6% growth compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 24.6%. The group’s annual inflation during the month under review grew by 26% compared with last year’s corresponding period.

Miscellaneous Items and Services

CPI of the goods and services categorized within the miscellaneous group stood at 269.4 last month, indicating a 2.7% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 35.9%. The group’s annual inflation during the month under review grew by 27% compared with last year’s corresponding period.