Last Friday, according to Financial Tribune, the National Iranian Oil Products Distribution Company announced that gasoline has been rationed and prices raised by at least 50%.
“Private car owners can buy 60 liters of subsidized gasoline every month with a fuel card for 15,000 rials (12 cents) per liter, up 50% (in prices). Additional purchases (maximum 250 liters a month) will cost 30,000 rials (25 cents) per liter, up 200%,” NIOPDC said.
Central Bank of Iran's Governor Abdolnasser Hemmati estimates that the direct inflationary impact of gas price hike will be around 2.5% and its indirect impact would reach 4% over the next year, IRNA reported.
The overall CPI (using the Iranian year to March 2017 as the base year) stood at 187.8 last month, indicating a 1.6% rise compared with the month before, latest data released by the Statistical Center of Iran show.
The consumer inflation registered a year-on-year increase of 27% in the Iranian month ending Nov. 21, compared with the similar month of last year.
The average goods and services CPI in the 12-month period ending Nov. 21 increased by 41.1% compared with last year’s corresponding period.
SCI had put the annual inflation rate for the preceding Iranian month, which ended on October 22, at 42%.
The index registered a year-on-year increase of 27% for urban areas and 27.3% for rural areas compared with the similar month of last year.
The overall CPI reached 187 for urban households and 192 for rural households, indicating a month-on-month increase of 1.5% and 1.8% for urban and rural areas, respectively.
SCI put urban and rural 12-month inflation for the month under review at 40.3% and 45.1% respectively.
Last month, price drops were registered in only one out of 12 groups of consumer goods and services purchased by households, namely “communications”, compared with the month before.
Transportation
With a coefficient of 9.41%, CPI of “transportation” stood at 190.2% last month, indicating a 5.4% increase compared with the month before, which was the highest monthly inflation registered among all groups.
The “transportation” index registered a year-on-year increase of 33.4%.
The annual CPI of this group increased by 44.4% compared with last year’s corresponding period.
Food & Beverages
With a coefficient of 26.64%, the Consumer Price Index of “food and beverages” stood at 215.6 in the month ending Nov. 21, indicating a 1.4% increase compared with the month before.
The “food and beverages” index registered a year-on-year increase of 29.8% compared with the similar month of last year.
CPI of “food and beverages” group in the 12-month period ending Nov. 21 increased by 58.5% compared with last year’s corresponding period, SCI reported.
Tobacco
CPI of “tobacco” stood at 279.3 last month, indicating a 0.3% rise compared with the month before.
The “tobacco” index, which has the minimum impact on total inflation rate with a coefficient of 0.59%, registered a year-on-year increase of 1.5%.
CPI of “tobacco” group in the 12-month period ending Nov. 21 grew 64.9% compared with last year’s corresponding period.
Clothing & Shoes
With a coefficient of 4.78%, CPI of “clothing and shoes” stood at 203.8 last month, indicating a 1.6% increase compared with the month before.
The “clothing and shoes” index registered a year-on-year increase of 36.1% during the month.
The annual CPI of the group increased by 50.7% compared with last year’s corresponding period.
Housing, Water, Electricity, Natural Gas & Other Fuels
CPI of “housing, water, electricity, natural gas and other fuels” stood at 163.3 last month, indicating a 1.3% increase 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 23.5%.
The 12-month CPI of this group increased by 24.1% compared with last year’s corresponding period.
Furniture, Home Appliances & Their Maintenance
With a coefficient of 3.93%, CPI of “furniture, home appliances and their maintenance” stood at 231.3 last month, indicating a 1% increase compared with the month before.
The group’s CPI registered a year-on-year increase of 35.6%. The 12-month CPI of the group increased by 66.4% compared with last year’s corresponding period, the highest annual inflation among 12 groups of goods and services.
Health & Treatment
CPI of “health and treatment” stood at 163.3 last month, indicating a 1% increase compared with the month before. The index, with a coefficient of 7.14%, registered a year-on-year increase of 24.2% compared with the similar month of last year.
“Health and treatment” group’s annual inflation during the month under review grew by 26.2% compared with last year’s corresponding period.
Communications
CPI of “communications” stood at 145.1 last month, indicating a 0.2% decline compared with the month before. The index, with a coefficient of 2.87%, registered a year-on-year increase of 1.7%.
“Communications” group’s annual inflation during the month under review grew by 27% compared with last year’s corresponding period.
Leisure & Culture
CPI of “leisure and culture” group stood at 231 last month, indicating a 0.3% rise compared with the month before.
The index, with a coefficient of 1.65%, registered a year-on-year increase of 30.2%.
“Leisure and culture” group’s annual inflation during the month under review grew by 60.1% compared with last year’s corresponding period.
Education
With a coefficient of 1.86%, CPI of “education” stood at 171.2 last month, indicating a 0.2% increase compared with the month before.
The “education” CPI index registered a year-on-year increase of 22.3%. The annual CPI of the group increased by 22.3% compared with last year’s corresponding period.
Hotels & Restaurants
CPI of “hotels and restaurants” stood at 187 last month, indicating a 1% growth compared with the month before. The index, with a coefficient of 1.44%, registered a year-on-year increase of 36.4%, the highest increase in the basket of Iranian households.
The group’s annual inflation during the month under review grew by 42.4% compared with last year’s corresponding period.
Miscellaneous Items & Services
CPI of the goods and services categorized within “miscellaneous” heading stood at 202.1 last month, indicating a 0.7% growth compared with the month before. The index, with a coefficient of 4.18%, posted a year-on-year increase of 24.9%.
The group’s annual inflation during the month under review grew by 46.9% compared with last year’s corresponding period.