Consumer Inflation Exceeds 44%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period ending July 22, which marks the end of the fourth Iranian month of fiscal 2021-22, increased by 44.2% compared with the corresponding period of the year before, latest data released by the Statistical Center of Iran show.

News ID: ۷۸۶۷۴۷

27 July 2021

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on June 21, at 43%.

The consumer inflation for the month under review (June 22-July 22) registered an increase of 43.6% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending June 21 was 47.6%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 327.4 for the month to July 22, indicating a 3.5% rise compared with the month before. Month-on-month consumer inflation was 2.5% for the preceding month.

SCI put average inflation for urban and rural areas at 43.7% and 47.3%, respectively.

CPI registered a year-on-year increase of 42.9% for urban areas and 47.7% for rural areas in the month ending July 22.

The overall CPI reached 323.8 for urban households and 347 for rural households, indicating a month-on-month increase of 3.6% and 3.2%, 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 July 22 was recorded for “hotels and restaurants” group with 6.8% and “communications” group with 0.1%.

The highest year-on-year inflation in the month under review was posted for “hotels and restaurants” with 62.3% while the lowest YOY inflation was registered for “communications” with 8%.

The highest and lowest annualized inflation was registered for “transportation” with 63.4% and “communications” with 18.4%, respectively.

Food and Beverages

With a coefficient of 26.64%, the CPI of “food and beverages” for all Iranian households stood at 417.1 in the month ending July 22, indicating a 3.2% increase compared with the month before. The index registered a year-on-year increase of 57.4%. The CPI of the group increased by 54.8% in the 12-month period ending July 22 compared with last year’s corresponding period.

Tobacco

The CPI of “tobacco” stood at 478.5, indicating a 1.4% 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 37.8%. The annualized CPI of the group grew by 45.7% compared with the corresponding period of the year before.

Clothing and Shoes

With a coefficient of 4.78%, the CPI of “clothing and shoes” stood at 384.1, indicating a 3.4% increase compared with the month before. The index registered a year-on-year increase of 55.4% during the month under review. The average annual CPI of the group increased by 47.8% compared with last year’s corresponding period.

Housing and Utilities

The CPI of “housing and utilities (water, electricity, natural gas and other fuels)” stood at 230.7, indicating a 3.9% 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 25%. The annualized CPI of the group was at 27.1%.

Furniture, Home Appliances and Their Maintenance

With a coefficient of 3.93%, the CPI of “furniture, home appliances and their maintenance” stood at 455.4, indicating a 2.3% increase compared with the month before. The group’s CPI registered a year-on-year increase of 59.6%. The average annual CPI of the group increased by 59% compared with last year’s corresponding period.

Health and Treatment

The CPI of “health and treatment” group stood at 275.3, indicating a 6.3% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 44.2% compared with the similar month of last year. The group’s annual inflation during the month under review stood at 36.9%.

Transportation

With a coefficient of 9.41%, the CPI of “transportation” stood at 415.2, indicating a 4.2% increase compared with the month before. The “transportation” index registered a year-on-year increase of 46.4%. The annualized CPI of the group increased by 63.4% compared with the similar period of the year before.

Communications

The CPI of “communications” stood at 176.4, indicating a 0.1% rise compared with the previous month. The index, with a coefficient of 2.87%, registered a year-on-year increase of 8%. The group’s annualized inflation was at 18.4.

Leisure and Culture

The CPI of “leisure and culture” group stood at 423.5, indicating a 2.6% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 48.9%. The group’s annualized inflation stood at 51.7%.

Education

With a coefficient of 1.86%, the CPI of “education” group stood at 218.9, indicating a 1.7% rise compared with the month before. The group’s CPI index registered a year-on-year increase of 21.7%. The annualized CPI of the group increased by 22.3% compared with last year’s corresponding period.

Hotels and Restaurants

The CPI of “hotels and restaurants” stood at 347.5, indicating a 6.8% rise compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 62.3%. The group’s annualized inflation has been put at 43.8%.

Miscellaneous Items and Services

The CPI of goods and services categorized within the “miscellaneous” group stood at 367, indicating a 2% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 45.2%. The group’s average annual inflation stood at 45.6%.