Consumer Inflation Rises to 34.2%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period ending Feb. 18, which marks the end of the 11th month of the current Iranian year, increased by 34.2% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.

News ID: ۷۸۶۰۶۷

21 February 2021

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Jan. 19, at 32.2%.

The consumer inflation for the month under review (Jan. 20-Feb. 18) registered an increase of 48.2% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Jan. 19 was 46.2%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 292.8, indicating a 2.5% rise compared with the month before. Month-on-month consumer inflation was at 1.8% for the preceding month.

SCI put average annual inflation for urban and rural areas at 34.1% and 35%, respectively.

CPI registered a year-on-year increase of 47.2% for urban areas and 53.6% for rural areas in the month ending Feb. 18.

The overall CPI reached 289.5 for urban households and 311.2 for rural households, indicating a month-on-month increase of 2.4% and 3.3% for urban and rural areas, respectively.

The highest monthly growth in the index among 12 groups of the basket of consumer goods and services purchased by households in the Iranian month ending Feb. 18 was recorded for food and beverages with 5.3% while a monthly deflation of 1.5% was posted by the communications group.

The highest year-on-year inflation in the month under review was posted for food and beverages (67.2%) while the lowest YOY inflation were registered for education and communication groups with 21.8%.

The highest and lowest annual inflation was registered for transportation with 65.3% and communications with 15.1%.

Food and Beverages

With a coefficient of 26.64%, the CPI of food and beverages stood at 377.4 in the month ending Feb. 18, indicating a 5.3% increase compared with the month before. The food and beverages index registered a year-on-year increase of 67.2%. The CPI of food and beverages group in the 12-month period ending Feb. 18 increased by 34.7% compared with last year’s corresponding period.

Tobacco

The CPI of tobacco stood at 441.7, indicating a 0.3% rise compared with the month before. The tobacco index, which has minimum impact on total inflation rate with a coefficient of 0.59%, registered a year-on-year increase of 54.3%. The annual CPI of tobacco group grew by 33% 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 320.9 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 49.7% during the month under review. The annual CPI of the group increased by 36.8% 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 no change (0%) 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 27.1%. The 12-month CPI of this group increased by 24.7% compared with last year’s corresponding period.

Furniture, Home Appliances and Their Maintenance

With a coefficient of 3.93%, CPI of furniture, home appliances and their maintenance stood at 401.3, indicating a 2.9% increase compared with the month before. The group’s CPI registered a year-on-year increase of 66.9%. The 12-month CPI of the group increased by 43% compared with last year’s corresponding period.

Health and Treatment

The CPI of health and treatment group stood at 232.8, indicating a 1.7% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 37.8% compared with the similar month of last year. The health and treatment group’s annual inflation during the month under review grew by 28.3% compared with last year’s corresponding period.

Transportation

With a coefficient of 9.41%, the CPI of transportation stood at 367.1, indicating a 0.6% increase compared with the previous month. The transportation index registered a year-on-year increase of 56.7%. The annual CPI of the group increased by 65.3% compared with the similar period of the year before.

Communications

The CPI of communications stood at 179.4, indicating a 1.5% decline compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 21.8%. The communications group’s annual inflation during the month under review grew by 15.1% compared with the previous year’s corresponding period.

Leisure and Culture

The CPI of leisure and culture group stood at 382.6, indicating a 3.9% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 59.5%. Leisure and culture group’s annual inflation during the month under review grew by 39.7% compared with last year’s corresponding period.

Education

With a coefficient of 1.86%, the CPI of education group stood at 211, indicating a 0.9% rise compared with the month before. The education group’s CPI index registered a year-on-year increase of 21.8%. The annual CPI of the group increased by 21.4% compared with last year’s corresponding period.

Hotels and Restaurants

The CPI of hotels and restaurants stood at 277.1, indicating a 4.5% growth compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 43.3%. The group’s annual inflation during the month under review grew by 27.6% compared with last year’s corresponding period.

Miscellaneous Goods and Services

The CPI of goods and services categorized under the “miscellaneous” group stood at 312.4, indicating a 1.9% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 48.5%. The group’s annual inflation during the month under review grew by 35.5% compared with last year’s corresponding period.