SCI Reviews Latest Price Changes in Food Products

EghtesadOnline: The biggest month-on-month price rise for a food item during the month ending Oct. 22 was 27.7% recorded for cucumbers, such that 1 kilogram was sold at 54,389 rials (48 cents).

News ID: ۷۸۴۹۹۲

03 November 2019

The second and third biggest month-on-month price increases during the period were registered for packed foreign tea with 2.6% and Iranian pasteurized cheese with 2.4%, the Statistical Center of Iran reported.

A kilogram of packed foreign tea was sold at 562,576 rials ($5) and a kilogram of Iranian pasteurized cheese went for 108,067 rials (96 cents) last month.

Thirteen out of 24 food items reviewed by the SCI saw price declines in the seventh Iranian month (Sept. 23-Oct. 22) compared with the month before. The sharpest such MOM price declines were 39.2% recorded for oranges, 23.8% for potatoes and 17.2% for apples, Financial Tribune reported.

A kilogram of oranges were sold at 81,052 rials (72 cents), a kilogram of potatoes went for 36,006 rials (32 cents) and a kilogram of apples were sold at 68,819 rials (61 cents).

The retail price for packed foreign tea during the month increased by 87.7% compared with the same period of last year—the highest YOY price rise for a food item last month.

The second and third biggest year-on-year food price rises in the same month were registered for cucumbers with 73.5% and lamb with 68.5%.

Tomato, egg and apple were the only items with year-on-year deflation last month. Tomato prices decreased by 42.3%, egg prices fell by 10.7% and apple prices dropped by 1% compared with the same month of last year. A kilogram of tomatoes was sold at 25,533 rials (22 cents) and a kilogram of eggs went for 89,153 rials (79 cents) last month.

The average goods and services Consumer Price Index in Iran for the 12-month period ending Oct. 22 increased by 42% compared with last year’s corresponding period.

SCI put the annual inflation rate for the preceding Iranian month, which ended on Sept. 22, at 42.7%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 184.9 last month, indicating a 1.7% rise compared with the month before.

The consumer inflation registered a year-on-year increase of 28.3% compared with the similar month of last year.

The CPI index registered a year-on-year increase of 28.3% for urban areas and 28.5% for rural areas compared with the similar month of last year.

The overall CPI reached 184.2 for urban households and 188.6 for rural households, indicating a month-on-month increase of 1.9% and 0.8% for urban and rural areas, respectively.

SCI put urban and rural 12-month inflation for the month under review at 41.3% and 46.3% respectively.

With the coefficient of 26.64%, the Consumer Price Index of “food and beverages” stood at 212.7 in the month ending Oct. 22, indicating a 1.1% decrease compared with the month before.

The “food and beverages” index registered a year-on-year increase of 33.6% compared with the similar month of last year.

The average CPI of “food and beverages” group in the 12-month period ending Oct. 22 increased by 60.8% compared with last year’s corresponding period.