Statistical Center of Iran Data Shows: Inflation Highest for Top Earners

EghtesadOnline: The Statistical Center of Iran has released its latest report on inflation rates for each of the 10 deciles, in which Iranian households are categorized on the basis of their income.

News ID: ۷۸۳۸۲۹

28 August 2018

The average goods and services Consumer Price Index in the 12-month period ending Aug. 22, which marks the end of the Iranian month of Mordad, increased by 9.2% for the first decile (those with the lowest income).

It rose by 10% for the 10th decile (those with the highest income) as well as for the ninth, eighth and seventh deciles compared with last year’s corresponding period.

The inflation rate for the second decile was at 9.5%, third decile at 9.7%, fourth and fifth deciles at 9.8% and increased by 9.9% for the sixth decile, Financial Tribune reported.

The highest overall CPI (using the Iranian year to March 2017 as the base year) stood at 128.9 for the 10th decile and the lowest index was 127.6 for the first decile.

The year-on-year inflation rates were 18% for the first decile, 19.1% for the second,19.3% for the third, 19.4% for the fourth, 19.5% for the fifth, 19.6% for the sixth, 20.1% for the seventh, 20.2% for the eighth, 20.5% for the ninth and 21.2% for the 10th decile.

Income deciles are groupings that result from ranking either all households or all persons in the population in the ascending order according to income, and then dividing the population into 10 groups, each comprising approximately 10% of the estimated population.

Regardless of income deciles, SCI earlier put the overall goods and services Consumer Price Index's increase in the 12-month period ending Aug. 22 at 9.7% compared with last year’s corresponding period,.

SCI had put the inflation rate for the preceding month that ended on July 22 at 8.7%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 127.7 in Mordad, indicating a 5.2% rise compared with the previous month.

The index registered a year-on-year increase of 19.3% compared with the similar month of last year.

SCI put average urban and rural inflation in Mordad at 9.8% and 9.1% respectively. The overall CPI reached 127.6 for urban households and 128 for rural households, indicating an increase of 5.1% for urban areas and 5.9% for rural areas compared with the previous month.

The index registered a year-on-year increase of 19.4% for urban areas and 18.8% for rural areas compared with the similar month of last year.