‘Food and Beverage’ Inflation at 51.8%

EghtesadOnline: The average goods and services Consumer Price Index of “food and beverages” in the 12-month period ending June 21, which marks the end of the third Iranian month of the fiscal 2021-22, increased by 51.8% compared with last year’s corresponding period.

News ID: ۷۸۶۵۴۸

28 June 2021

With a coefficient of 26.64%, the CPI of the group for all Iranian households stood at 404.3 in the month ending June 21, indicating a 3.2% increase compared with the month before, latest data released by the Statistical Center of Iran show.

The index registered a year-on-year increase of 62.7%.

Apart from “food and beverages”, the 12 groups of the basket of consumer goods and services purchased by households surveyed by SCI include “tobacco" with a coefficient of 0.59%, "clothing and shoes" with 4.78%, "housing, water, electricity, natural gas and other fuels" with 35.5% (highest), "furniture, home appliances and their maintenance" with 3.93%, "health and treatment" with 7.14%, "transportation" with 9.41%, "communications" with 2.87%, "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.

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 in the Iranian month ending June 21 was recorded for “clothing and shoes” group with 4.2% while “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” with 11.8%.

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