Iran's Inflation Downtrend Persists

EghtesadOnline: Data released by the Statistical Center of Iran show the annualized inflation has maintained downtrend for the third consecutive month.

News ID: ۷۸۷۴۹۵

25 December 2021

The average goods and services Consumer Price Index in the 12-month period ending Dec. 21 increased by 43.4% 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 Nov. 21, at 44.4%.

The consumer inflation for the month under review (Nov. 22-Dec. 21) registered an increase of 35.2% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Nov. 21 was 35.7%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 379.2 for the month ending Dec. 21, indicating a 1.7% 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 42.7% and 47%, respectively.

CPI registered a year-on-year increase of 35% for urban areas and 36.2% for rural areas in the month.

The overall CPI reached 374.9 for urban households and 403.7 for rural households, indicating a month-on-month increase of 1.6% and 1.8%, 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 Dec. 21 was recorded for “tobacco” with 3.9%, and “communications” and “housing and utilities (water, electricity, natural gas and other fuels)”, each with 1%.

The highest year-on-year inflation in the month under review was posted for “hotels and restaurants” with 60.1% while the lowest YOY inflation was registered for “communications” with 2.3%.

The highest and lowest annualized inflation rates were registered for “food and beverages” with 58.3% and “communications” with 10.7%.

Food and Beverages

With a coefficient of 26.64%, the CPI of “food and beverages” for all Iranian households stood at 503.5 in the month ending Dec. 21, indicating a 1.4% increase compared with the previous month. The index registered a year-on-year increase of 41.8%. The CPI of the group increased by 58.3% in the 12-month period ending Dec. 21 compared with last year’s corresponding period.

Tobacco

The CPI of “tobacco” stood at 560.1, indicating a 3.9% 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 29.7%. The annualized CPI of the group grew by 39.8% 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 446.5, indicating a 3.1% increase compared with the month before. The “clothing and shoes” index registered a year-on-year increase of 48.8% during the month under review. The average annual CPI of the group increased by 52.3% 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 260.9, indicating a 1% 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 26.2%. The annualized CPI of the group was at 26.7%.

Furniture, Home Appliances and Their Maintenance

With a coefficient of 3.93%, the CPI of “furniture, home appliances and their maintenance” stood at 511.4, indicating a 2.1% increase compared with the month before. The group’s CPI registered a year-on-year increase of 36.7%. The average annual CPI of the group increased by 55.7% compared with last year’s corresponding period.

Health and Treatment

The CPI of “health and treatment” group stood at 299.7, indicating a 1.3% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 34.6% compared with the similar month of last year. The group’s annual inflation during the month under review stood at 40.2%.

Transportation

With a coefficient of 9.41%, the CPI of “transportation” stood at 480.5, indicating a 2.8% increase compared with the month before. The “transportation” index registered a year-on-year increase of 33.3%. The annualized CPI of the group increased by 42.2% compared with the similar period of the year before.

Communications

The CPI of “communications” stood at 186.1, indicating a 1% rise compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 2.3%. The group’s annualized inflation was at 10.7%.

Leisure and Culture

The CPI of “leisure and culture” group stood at 472.7, indicating a 2.1% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 32.7%. The group’s annualized inflation stood at 47.5%.

Education

With a coefficient of 1.86%, the CPI of “education” group stood at 267, indicating a 1.6% rise compared with the month before. The group’s CPI index registered a year-on-year increase of 28.4%. The annualized CPI of the group increased by 23.3% compared with last year’s corresponding period.

Hotels and Restaurants

The CPI of “hotels and restaurants” stood at 413.3, indicating a 2% rise compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 60.1%. The group’s annualized inflation has been put at 58.2%.

Miscellaneous Items and Services

The CPI of goods and services categorized in the “miscellaneous” group stood at 406.7, indicating a 2.2% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 36.5%. The group’s average annual inflation stood at 44.2%.