Annualized Inflation Hit 41%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period ending May 21, which marks the end of the second Iranian month of fiscal 2021-22, increased by 41% compared with the corresponding period of the year before, latest data released by the Statistical Center of Iran show.

News ID: ۷۸۶۴۸۸

24 May 2021

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on April 20, at 38.9%.

The consumer inflation for the month under review (April 21-May 21) registered an increase of 46.9% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending April 20 was 49.5%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 308.4, indicating a 0.7% rise compared with the month before. Month-on-month consumer inflation was 2.7% for the preceding month.

SCI put urban and rural 12-month inflation for the month under review at 40.5% and 43.2%, respectively.

CPI registered a year-on-year increase of 46.1% for urban areas and 51% for rural areas in the month ending May 21.

The overall CPI reached 304.9 for urban households and 327.8 for rural households, indicating a month-on-month increase of 0.7% for both.

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 May 21 was recorded for “tobacco” group with 3.1% while “communications” group posted the deflation of 1.5%.

The highest year-on-year inflation in the month under review was posted for “furniture, home appliances and their maintenance” with 67.6% while the lowest YOY inflation was registered for “communication” group with 13.8%.

The highest and lowest annual inflation were registered for “transportation” with 65.1% and “communications” with 18.3%.

Food and Beverages

With a coefficient of 26.64%, the CPI of “food and beverages” for all Iranian households stood at 391.8 in the month ending May 21, indicating a 0.9% decrease compared with the month before. The index registered a year-on-year increase of 61.5%. The CPI of food and beverage group increased by 47.8% in the 12-month period ending May 21 compared with last year’s corresponding period.

Tobacco

CPI of “tobacco” stood at 463.3, indicating a 3.1% rise compared with the month before. The index, which has minimum impact on total inflation rate with a coefficient of 0.59%, registered a year-on-year increase of 46.6%. The annual CPI of tobacco group grew by 42.3% 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 356.5 in the last fiscal month, indicating a 2.8% increase compared with the month before. The index registered a year-on-year increase of 55.3% during the month under review. The annual CPI of the group increased by 43.3% 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 219, indicating a 0.9% rise 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 28.6%. The 12-month CPI of housing, water, electricity, natural gas and other fuels group increased by 26.6% 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 434.6, indicating a 2.3% increase compared with the month before. The group’s CPI registered a year-on-year increase of 67.6%. The 12-month CPI of the group increased by 53.7% compared with last year’s corresponding period.

Health and Treatment

The CPI of “health and treatment” group stood at 252.2, indicating a 2.4% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 43.5% compared with the similar month of last year. The health and treatment group’s annual inflation rate during the month under review grew by 33.6% compared with last year’s corresponding period.

Transportation

With a coefficient of 9.41%, CPI of “transportation” stood at 387.3, indicating a 2% increase compared with the month before. The transportation index registered a year-on-year increase of 46.9%. The annual CPI of the group increased by 65.1% compared with the similar period of the year before.

Communications

The CPI of “communications” stood at 177.5, indicating a 1.5% decline compared with the previous month. The index, with a coefficient of 2.87%, registered a year-on-year increase of 13.8%. The communications group’s annual inflation during the month under review grew by 18.3% compared with the previous year’s corresponding period.

Leisure and Culture

The CPI of “leisure and culture” group stood at 404, indicating a 1.4% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 57.4%. Leisure and culture group’s annual inflation during the month under review grew by 48% compared with last year’s corresponding period.

Education

With a coefficient of 1.86%, the CPI of “education” stood at 214 last month, indicating a 0.3% rise compared with the month before. The education group’s CPI index registered a year-on-year increase of 23.3%. The annual CPI of the group increased by 22% compared with last year’s corresponding period.

Hotels and Restaurants

The CPI of “hotels and restaurants” stood at 316.1, indicating a 2.6% growth compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 60.8%. The group’s annual inflation during the month under review grew by 36.7% compared with last year’s corresponding period.

Miscellaneous Items and Services

The CPI of goods and services categorized within the “miscellaneous” group stood at 349.2, indicating a 1.8% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 50.6%. The group’s annual inflation during the month under review grew by 42.4% compared with last year’s corresponding period.