Fiscal 2021-22 Inflation at 40%

EghtesadOnline: The average goods and services Consumer Price Index in the 12-month period ending March 20, which marks the final day of the fiscal 2021-22, increased by 40.2% compared with the corresponding period of the year before, latest data released by the Statistical Center of Iran show.

News ID: ۷۸۷۷۹۰

03 April 2022

The annualized inflation reported on a monthly basis by SCI marks the fifth consecutive month of decline.

SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Feb. 19, at 41.4%.

The consumer inflation for the month under review (Feb. 20-March 20) registered an increase of 34.7% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Feb. 19 was 35.4%.

The overall CPI (using the Iranian year to March 2017 as the base year) stood at 401.5 for the month ending March 20, indicating a 1.3% rise compared with the month before. Month-on-month consumer inflation was 2.1% for the preceding month.

SCI put average inflation for urban and rural areas at 39.7% and 42.8%, respectively.

CPI registered a year-on-year increase of 34.5% for urban areas and 35.8% for rural areas in the month.

The overall CPI reached 396.6 for urban households and 429.2 for rural households, indicating a month-on-month increase of 1.2% and 1.6%, 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 March 20 was recorded for “clothing and shoes” with 4.4% and “transportation” that remained unchanged month-on-month.

The highest year-on-year inflation in the month under review was posted for “hotels and restaurants” with 56.7% while the lowest YOY inflation was registered for “communications” with 4%.

The highest and lowest annualized inflation rates were registered for “hotels and restaurants” with 61.6% and “communications” with 6.4%.

Food and Beverages

With a coefficient of 26.64%, the CPI of “food and beverages” stood at 540.7 in the month ending March 20, indicating a 1.7% increase compared with the previous month. The index registered a year-on-year increase of 40.8%. The CPI of the group increased by 51.9% in the 12-month period ending March 20 year-on-year.

Tobacco

The CPI of “tobacco” stood at 608.8, indicating a 2.1% rise compared with the month before. The “tobacco” index, which has the least impact on the total inflation rate with a coefficient of 0.59%, registered a year-on-year increase of 37.2%. The annualized CPI of the group grew by 35.9% 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 491.7, indicating a 4.4% increase compared with the month before. The “clothing and shoes” index registered a year-on-year increase of 46.3% during the month under review. The average annual CPI of the group increased by 51.3% 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 272.4, indicating a 0.5% rise compared with the month before. The group’s CPI index, which has the biggest impact on the total inflation rate with a coefficient of 35.5%, registered a year-on-year increase of 27.2%. 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 538.6, indicating a 1.7% increase compared with the month before. The group’s CPI registered a year-on-year increase of 30.5%. The average annual CPI of the group increased by 46.5% compared with last year’s corresponding period.

Health and Treatment

The CPI of “health and treatment” group stood at 314.2, indicating a 0.8% increase compared with the month before. The index, with a coefficient of 7.14%, registered an increase of 32% compared with the similar month of last year. The group’s annual inflation during the month under review stood at 38.7%.

Transportation

With a coefficient of 9.41%, the CPI of “transportation” stood at 499.3, unchanged compared with the month before. The “transportation” index registered a year-on-year increase of 34.8%. The annualized CPI of the group increased by 37.5% compared with the similar period of the year before.

Communications

The CPI of “communications” stood at 186.4, indicating a 0.1% increase compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 4%. The group’s annualized inflation was at 6.4%.

Leisure and Culture

The CPI of “leisure and culture” group stood at 497.1, indicating a 1.1% rise compared with the month before. The index, with a coefficient of 1.65%, registered a year-on-year increase of 27.3%. The group’s annualized inflation stood at 39.9%.

Education

With a coefficient of 1.86%, the CPI of “education” group stood at 270.6, indicating a 0.1% rise compared with the month before. The group’s CPI index registered a year-on-year increase of 28%. The annualized CPI of the group increased by 25% compared with last year’s corresponding period.

Hotels and Restaurants

The CPI of “hotels and restaurants” stood at 454.9, indicating a 2.8% rise compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 56.7%. The group’s annualized inflation has been put at 61.6%.

Miscellaneous Items and Services

The CPI of goods and services categorized in the “miscellaneous” group stood at 428.1, indicating a 2.4% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 34.8%. The group’s average annual inflation stood at 40.8%.