Iran: Changes in Food Prices in September 2018

EghtesadOnline: The Statistical Center of Iran has, in a newly-released report, reviewed food price changes in the month ending Sept. 22.

News ID: ۷۸۴۱۵۷

10 October 2018

According to the report, the retail price of bananas increased by 170.4% compared with last year's similar month to register the highest year-on-year rise.

The second and third biggest year-on-year price rises were registered for oranges and apples with 120.7% and 88.4%, respectively.

Bananas also saw the highest month-on-month growth in prices, i.e. 47.5%. The second and third biggest month-on-month rises were recorded for potatoes with 40.8% and tomato paste with 24.3%, Financial Tribune reported.

This is while the biggest year-on-year decrease in food prices was reported for onion at 17.8%.

Prices of cucumbers and apples also decreased by 12% and 5.9% compared with the month before.

The Consumer Price Index of “Food and Beverages” (using the Iranian year to March 2017 as the base year) stood at 147.2 in the month, indicating a 6.3% rise compared with the previous month.

The “Food and Beverages” index registered a year-on-year increase of 34.3% compared with the corresponding month of last year.

The CPI of “Food and Beverages” group in the 12-month period ending Sept. 22 increased by 13.9% compared with last year’s corresponding period, SCI reported earlier.

According to SCI, the overall goods and services Consumer Price Index in Iran for the month ending Sept. 22 registered a year-on-year increase of 25.7% compared with the similar month of last year.

The average CPI in the 12-month period ending Sept. 22 increased by 11.3% compared with last year’s corresponding period.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 134.6 in Aug. 23-Sept. 22, indicating a 5.4% rise compared with the previous month.

SCI put urban and rural 12-month average inflation at 11.4% and 10.7% respectively. CPI reached 134.4 for urban households and 135.5 for rural households, indicating an increase of 5.3% for urban areas and 5.8% for rural areas compared with the previous month.

The index registered a year-on-year increase of 25.7% for urban areas and 26.1% for rural areas compared with the similar month of last year.

The Central Bank of Iran's reading of the inflation for the same period under review published after the SCI report shows goods and services Consumer Price Index for urban areas increased by 31.4% in the month.

According to CBI, the overall CPI stood at 141.9 for the month, indicating a 6.1% increase compared with the previous month.

The average CPI in the 12 months ending Sept. 22 increased by 13.5% compared with last year’s corresponding period, the central bank says.