Food Inflation at 56.5%: SCI

EghtesadOnline: The average goods and services Consumer Price Index of “food and beverages” in the 12-month period ending Jan. 20 increased by 56.5% compared with last year’s corresponding period.

News ID: ۷۸۷۶۸۴

26 January 2022

Latest data released by the Statistical Center of Iran show that with a coefficient of 26.64%, the CPI of the group stood at 511.6 in the month ending Jan. 20, indicating a 1.6% increase compared with the previous month.

The index registered a year-on-year increase of 42.8%.

The 12 groups of the basket of consumer goods and services purchased by households surveyed by SCI include "food and beverages" with a coefficient of 26.64%, "tobacco" with 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 goods and services CPI in the 12-month period ending Jan. 20 increased by 42.4% 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 Dec. 21, at 43.4%.

The consumer inflation for the month under review (Dec. 22-Jan. 20) registered an increase of 35.9% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Dec. 21 was 35.2%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 388.2 for the month ending Jan. 2, indicating a 2.4% rise compared with the month before. Month-on-month consumer inflation was 1.7% for the preceding month.

SCI put average inflation for urban and rural areas at 41.8% and 45.8%, respectively.

CPI registered a year-on-year increase of 35.8% for urban areas and 36.5% for rural areas in the month.

The overall CPI reached 384.1 for urban households and 411.4 for rural households, indicating a month-on-month increase of 2.5% and 1.9%, 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 Jan. 20 was recorded for “tobacco” with 4.8% and “communications” with 0.2%.

The highest year-on-year inflation in the month under review was posted for “hotels and restaurants” with 62.1% while the lowest YOY inflation was registered for “communications” with 2.3%.

The highest and lowest annualized inflation rates were registered for “hotels and restaurants” with 60% and “communications” with 9%.