Consumer Inflation Hits 32.2%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period ending Jan. 19, which marks the end of the 10th Iranian month, increased by 32.2% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.

News ID: ۷۸۵۸۱۴

23 January 2021

SCI had put the average annual inflation rate for the preceding Iranian month that ended on Dec. 20 at 30.5%.

The consumer inflation for the month under review (Dec. 21, 2020-Jan. 19) registered an increase of 46.2% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Dec. 20 was 44.8%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 285.7, indicating a 1.8% rise compared with the month before. Month-on-month consumer inflation was 2% for the preceding month.

SCI put average annual inflation for urban and rural areas at 32.2% and 32.5%, respectively.

CPI registered a year-on-year increase of 45.5% for urban areas and 49.8% for rural areas in the month ending Jan. 19.

The overall CPI reached 282.9 for urban households and 301.3 for rural households, indicating a month-on-month increase of 1.9% and 1.7% for urban and rural areas, respectively.

The highest and lowest monthly growth in the index among 12 groups of the basket of consumer goods and services purchased by households in the Iranian month ending Jan. 19 were recorded for “furniture, home appliances and their maintenance” with 4.2% and “communications” with 0.1%, respectively.

The highest and lowest year-on-year inflation in the month under review was posted for furniture, home appliances and their maintenance (64.1%) and education (21.6%) and the highest and lowest annual inflation was registered for transportation (65.4%) and communications (13.6%) respectively.

Food and Beverages

With a coefficient of 26.64%, the CPI of “food and beverages” for all Iranian households stood at 358.3 in the month ending Jan. 19, indicating a 0.9% increase compared with the month before. The index registered a year-on-year increase of 60%. The CPI of the group in the 12-month period ending Jan. 19 increased by 30.8% compared with last year’s corresponding period.

Tobacco

The CPI of “tobacco” stood at 440.3, indicating a 2% rise compared with the month before. The index, which has the minimum impact on total inflation rate with a coefficient of 0.59%, registered a year-on-year increase of 54.5%. The annual CPI of the group grew by 29.4% compared with the corresponding period of the year before.

Clothing and Shoes

With a coefficient of 4.78%, CPI of clothing and shoes stood at 310.2 in the last fiscal month, indicating a 3.4% increase compared with the month before. The clothing and shoes index registered a year-on-year increase of 47% during the month under review. The annual CPI of the group increased by 35.3% compared with last year’s corresponding period.

Housing, Water, Electricity, Natural Gas and Other Fuels

The CPI of “housing, water, electricity, natural gas and other fuels” stood at 211, indicating a 2.1% increase compared with the month before. The group’s CPI index, which has the biggest impact on total inflation rate with a coefficient of 35.5%, registered a year-on-year increase of 27.5%. The 12-month CPI of “housing, water, electricity, natural gas and other fuels” increased by 24.4% compared with last year’s corresponding period.

Furniture, Home Appliances and Their Maintenance

With a coefficient of 3.93%, the CPI of “furniture, home appliances and their maintenance” stood at 389.9, indicating a 4.2% increase compared with the month before. The group’s CPI registered a year-on-year increase of 64.1%. The 12-month CPI of the group increased by 39.7% compared with last year’s corresponding period.

Health and Treatment

The CPI of “health and treatment” stood at 229, indicating a 2.9% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 36.5% compared with the similar month of last year. The group’s average annual inflation during the month under review grew by 27.1% compared with last year’s corresponding period.

Transportation

With a coefficient of 9.41%, the CPI of “transportation” stood at 364.9, indicating a 1.3% increase compared with the month before. The index registered a year-on-year increase of 62.5%. The annual CPI of the group increased by 65.4% compared with the similar period of the year before.

Communications

The CPI of “communications” stood at 182.2, indicating a 0.1% growth compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 24%. The group’s average annual inflation during the month under review grew by 13.6% compared with the previous year’s corresponding period.

Leisure and Culture

The CPI of “leisure and culture” stood at 368.4, indicating a 3.4% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 54.9%. The group’s annual inflation during the month under review grew by 37.1% compared with last year’s corresponding period.

Education

With a coefficient of 1.86%, the CPI of education stood at 209, indicating a 0.5% rise compared with the month before. The group’s CPI index registered a year-on-year increase of 21.6%. The annual CPI of the group increased by 21.3% compared with last year’s corresponding period.

Hotels and Restaurants

The CPI of “hotels and restaurants” stood at 265.1, indicating a 2.7% growth compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 38.1%. The group’s average annual inflation during the month under review grew by 26.3% compared with last year’s corresponding period.

Miscellaneous Items and Services

The CPI of goods and services categorized within the “miscellaneous” group stood at 306.7, indicating a 2.9% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 47.3%. The group’s average annual inflation during the month under review grew by 33.5% compared with last year’s corresponding period.