Transportation Inflation Tops 100% YOY

EghtesadOnline: The transportation sector recorded a whopping inflation rate of 109.5% year-on-year in the seventh month of the current Iranian year (Sept. 22-Oct. 21) – the highest among 12 groups of the basket of consumer goods and services purchased by households.

News ID: ۷۵۱۳۵۷

28 October 2020

The Statistical Center of Iran's latest report shows the Consumer Price Index of transportation stood at 378.2 in the month under review, indicating a 17% increase compared with the month before.

With a coefficient of 9.41%, the average CPI of the group in the 12-month period ending Oct. 21, which marks the end of the seventh Iranian month, increased by 58.4% compared with the similar period of the year before, which is also the highest among the 12 groups under review.

The overall average goods and services Consumer Price Index in the 12-month period ending Oct. 21 increased by 27.2% compared with the corresponding period of last year, according to SCI.

The center had put the average annual inflation rate for the preceding Iranian month, which ended on Sept. 21, at 26%.

The consumer inflation for the month under review (Sept. 22-Oct. 21) registered an increase of 41.4% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Sept. 21 was 34.4%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 261.5 during the period, indicating a 7% rise compared with the month before. Month-on-month consumer inflation was 3.6% for the preceding month (Aug. 22-Sept. 21.)

SCI put average annual inflation for urban and rural areas during the month under review at 27.3% and 26.7%, respectively.

CPI registered a year-on-year increase of 41.3% for urban areas and 42.2% for rural areas in the month ending Oct. 21.

The overall CPI reached 260.3 for urban households and 268.2 for rural households, indicating a month-on-month increase of 7.1% and 6.9% for urban and rural areas, respectively.

The 12 groups of the basket of consumer goods and services purchased by households surveyed by the SCI include "food and beverages" with a coefficient of 26.64%, "tobacco" with a coefficient of 0.59%, "clothing and shoes" with a coefficient of 4.78%, "housing, water, electricity, natural gas and other fuels" with a coefficient of 35.5% (the highest), "furniture, home appliances and their maintenance" with a coefficient of 3.93%, "health and treatment" with a coefficient of 7.14%, "transportation" with a coefficient of 9.41%, "communications" with a coefficient of 2.87%, "leisure and culture" with a coefficient of 1.65%, "education" with a coefficient of 1.86%, "hotels and restaurants" with a coefficient of 1.44% and "miscellaneous items and services" with a coefficient of 4.18%.

“The transportation sector’s recovery from the shock of coronavirus has gathered pace in the past couple of months,” Mohsen Sadeqi, a senior official with the Ministry of Roads and Urban Development, said recently.