Basij to Help Curb Consumer Prices

EghtesadOnline: The “Rabi 17 Headquarters” has been formed following the order of the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei to control prices and fight price gouging with the help of Basij volunteer forces and the Islamic Revolution Guards Corps.

News ID: ۷۵۱۴۱۶

07 November 2020

According to the head of Islamic Revolution Guards Corps, Hossein Salami, the taskforce also includes Agriculture Minister Kazem Khavazi, Industries Minister Alireza Razm-Hosseini and Justice Minister Alireza Avaei, as well as Prosecutor-General of Iran Mohammad Jafar Montazeri, and related oversight and security bodies.

“IRGC has high potential to help the two ministries of agriculture and industries control prices across the country by monitoring supply, production and distribution chains of essential goods. The headquarters is tasked with holding monthly sessions and the constant supervision of the market and timely control of prices,” he was quoted as saying by IRIB News.

The average goods and services Consumer Price Index in the 12-month period ending Oct. 21, which marks the end of the seventh Iranian month, increased by 27.2% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.

SCI had put the average annual inflation rate for the preceding Iranian month that 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 in Mehr, indicating a 7% rise compared with the previous month. 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.