Inflation Breaks Rising Streak

EghtesadOnline: The average annual inflation in Iran has broken a 12-month rising streak in the fiscal month ending Oct. 22.

News ID: ۷۸۷۲۰۹

26 October 2021

The average goods and services Consumer Price Index in the 12-month period ending Oct. 22, which marks the end of the seventh Iranian month of fiscal 2021-22, increased by 45.4% compared with the corresponding period of the year before, latest data released by the Statistical Center of Iran show.

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Sept. 22, at 45.8%.

The consumer inflation for the month under review (Sept. 23-Oct. 22) registered an increase of 39.2% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Sept. 22 was 43.7%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 364.1 for the month ending Oct. 22, indicating a 3.7% rise compared with the month before. Month-on-month consumer inflation was 3.9% for the preceding month.

SCI put average inflation for urban and rural areas at 44.7% and 49.6%, respectively.

CPI registered a year-on-year increase of 38.4% for urban areas and 43.9% for rural areas in the month ending Oct. 22.

The overall CPI reached 360.2 for urban households and 386 for rural households, indicating a month-on-month increase of 3.6% and 4.1%, 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 Oct. 22 was recorded for “education” with 13.5% and “communications” with 1.1%.

The highest year-on-year inflation in the month under review was posted for “food and beverages” with 61.3% while the lowest YOY inflation was registered for “communications” with 1.1%.

The highest and lowest annualized inflation was registered for “food and beverage” group with 61.4% and “communications” group with 14.7%.

Food and Beverages

With a coefficient of 26.64%, the CPI of “food and beverages” for all Iranian households stood at 481.9 in the month ending Oct. 22, indicating a 5% increase compared with the month before. The index registered a year-on-year increase of 61.3%. The CPI of the group increased by 61.4% in the 12-month period ending Oct. 22 compared with last year’s corresponding period.

Tobacco

The CPI of “tobacco” stood at 521.4, indicating a 4.4% rise compared with the month before. The “tobacco” index, which has the least impact on total inflation rate with a coefficient of 0.59%, registered a year-on-year increase of 31.5%. The annualized CPI of the group grew by 44% 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 419.8, indicating a 3.3% increase compared with the month before. The “clothing and shoes” index registered a year-on-year increase of 50% during the month under review. The average annual CPI of the group increased by 51.8% 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 254.6, indicating a 3.6% 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 26.8%.

Furniture, Home Appliances and Their Maintenance

With a coefficient of 3.93%, the CPI of “furniture, home appliances and their maintenance” stood at 490.4, indicating a 2.5% increase compared with the month before. The group’s CPI registered a year-on-year increase of 44%. The average annual CPI of the group increased by 60% compared with last year’s corresponding period.

Health and Treatment

The CPI of “health and treatment” group stood at 291.4, indicating a 2.4% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 37.5% compared with the similar month of last year. The group’s annual inflation during the month under review stood at 40.4%.

Transportation

With a coefficient of 9.41%, the CPI of “transportation” stood at 452.1, indicating a 1.5% increase compared with the month before. The “transportation” index registered a year-on-year increase of 19.5%. The annualized CPI of the group increased by 50.1% compared with the similar period of the year before.

Communications

The CPI of “communications” stood at 182.4, indicating a 1.1% rise compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 1.1%. The group’s annualized inflation was at 14.7%.

Leisure and Culture

The CPI of “leisure and culture” group stood at 453.1, indicating a 2.8% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 36.1%. The group’s annualized inflation stood at 51.2%.

Education

With a coefficient of 1.86%, the CPI of “education” group stood at 256.5, indicating a 13.5% rise compared with the month before. The group’s CPI index registered a year-on-year increase of 26.3%. The annualized CPI of the group increased by 22.1% compared with last year’s corresponding period.

Hotels and Restaurants

The CPI of “hotels and restaurants” stood at 394.9, indicating a 5.1% rise compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 67.3%. The group’s annualized inflation has been put at 54%.

Miscellaneous Items and Services

The CPI of goods and services categorized within the “miscellaneous” group stood at 390.8, 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 36.8%. The group’s average annual inflation stood at 45.9%.