‘Housing and Utilities’ Inflation Surges Past 27 Percent

EghtesadOnline: The average goods and services Consumer Price Index of “housing and utilities” (water, electricity, natural gas and other fuels) in the 12-month period ending June 21, which marks the end of the third Iranian month of the fiscal 2021-22, increased by 27.1% compared with last year’s corresponding period.

News ID: ۷۸۶۵۴۴

28 June 2021

The CPI of the group stood at 222 for the month under review, indicating a 1.4% rise compared with the month before.

The CPI of “housing and utilities”, which has the biggest impact on total inflation rate with 35.5%, registered a year-on-year increase of 28.5%.

Apart from “housing and utilities”, the 12 groups of the basket of consumer goods and services purchased by households surveyed by SCI include “food and beverages” with 26.64%, tobacco" with 0.59%, "clothing and shoes" with 4.78%, "health and treatment" with 7.14%, "furniture, home appliances and their maintenance" with 3.93%, “communications” with 2.87%, "transportation" with 9.41%, "leisure and culture" with 1.65%, "education" with 1.86%, "hotels and restaurants" with 1.44% and "miscellaneous items and services" with 4.18%.

The overall average goods and services Consumer Price Index in the 12-month period ending June 21 increased by 43% compared with the corresponding period of the year before, latest data released by the Statistical Center of Iran show.

This is for the 10th consecutive month that the annualized inflation has been on the rise.

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on May 21, at 41%.

The consumer inflation for the month under review (May 22-June 21) registered an increase of 47.6% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending May 21 was 46.9%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 316.2 in the last fiscal month, indicating a 2.5% rise compared with the month before. Month-on-month consumer inflation was 0.7% for the preceding month.

SCI put urban and rural 12-month inflation for the month under review at 42.5% and 45.6%, respectively.

CPI registered a year-on-year increase of 46.9% for urban areas and 51.5% for rural areas in the month ending June 21.

The overall CPI reached 312.6 for urban households and 336.3 for rural households, indicating a month-on-month increase of 2.5% and 2.6%, 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 June 21 was recorded for “clothing and shoes” group with 4.2% while the “communications” group posted a deflation of 0.7%.

The highest year-on-year inflation in the month under review was posted for “furniture, home appliances and their maintenance” with 66% while the lowest YOY inflation was registered for “communications” group with 11.8%.

The highest and lowest annualized inflation was registered for “transportation” group with 64.8% and “communications” with 18.7%.