CBI Reports Changes in Food Retail Prices

EghtesadOnline: The Central Bank of Iran has released a new report on the retail prices of food items for the week ending Sept. 7.

News ID: ۷۸۴۰۲۸

16 September 2018

Out of the 11 groups, the prices of eight food groups increased during the week, prices of two food groups decreased and one remained unchanged compared to the previous week.

From Aug. 31 to Sept. 7, the prices of eggs increased by 2.4%, rice by 0.1%, pulses by 0.8%, fresh vegetables by 5.1%, red meat by 1.1%, sugar cubes and sugar by 1.6%, tea by 0.2% and vegetable oil rose by 0.5% compared with the previous week.

Items included in two groups of “Fresh Fruits” and “Chicken” decreased by 1.1% and 6.9%, respectively, while the prices of dairy products remained unchanged compared with the week before, according to Financial Tribune.

Food items included in 10 out of 11 groups saw price rises compared to the same week of the previous month. Dairy prices increased by 3.9%, rice by 2.2%, pulses by 2.1%, fresh fruits by 5.1%, fresh vegetables by 4.1%, red meat by 4.4%, chicken by 1.9%, tea by 2.2% and vegetable oil prices by 0.6%, whereas egg prices decreased by 1.5% compared with the same period of last month.

Retail prices of sugar cubes and sugar registered the biggest rise of 5.9% month-on-month.

The retail prices of items included in dairy groups increased by 38.3% compared to the same week of last year, egg by 58.3%, rice by 12.5%, pulses by 3.9%, fresh vegetables by 41.4%, red meat by 37.1%, chicken by 26.2%, sugar cubes and sugar by 25%, tea by 22.8% and vegetable oil by 11.3% YOY.

The sharpest yearly price rises were registered for fresh fruits, as their retail prices grew by 90.3% YOY.

The Central Bank of Iran’s latest report on inflation shows the average goods and services Consumer Price Index for urban areas in the 12 months ending Aug. 22, which marks the end of the Iranian month of Mordad, increased by 11.5% compared with last year’s corresponding period, according to the latest report released by the Central Bank of Iran.

CBI had put the inflation rate for the preceding month that ended on July 22, at 10.2%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 133.8 in Mordad, indicating a 5.5% increase compared with the previous month. The index registered a year-on-year increase of 24.2% compared with the similar month of last year.  The CBI report came after the Statistical Center of Iran put the average inflation for the 12-month period to Mordad at 9.7%.