SCI Probes Food Price Changes

The biggest month-on-month price rise for a food item in urban areas was recorded for potato with 24.2%, which was sold for 97,344 rials (32 cents) per kilogram. 

The second and third biggest month-on-month price increase during the period under review was registered for watermelon with 18.7% and tomato paste with 9%. 

Watermelon was sold at 87,289 rials (29 cents) per kg and tomato paste went for 351,004 rials ($1.18) per kg. 

Thirteen out of 53 food items examined by SCI saw a price decline in the ninth Iranian month (Nov. 22-Dec. 21) compared with the previous month. 

Carrot with 23.8%, bell pepper with 14.3% and orange with 9.9% showed the highest month-on-month deflation. Carrot was sold at 97,710 rials (33 cents), bell peppers 165,344 rials ($57 cents) and oranges 174,427 rials (59 cents).

Compared with the same month of the year before, the retail prices of watermelon increased by 119.7%, registering the highest year-on-year price rise. A kilogram of watermelon was sold at 87,289 rials (29 cents).

The second and third biggest year-on-year price rise was registered for Persian melon with 106% and potato with 88.2%. A kilogram of Persian melon was sold at 130,691 rials (44 cents) and a kilogram of potato went for 97,344 rials (32 cents). 

No item registered a year-on-year price deflation in the month ending Dec. 21.

Highest Inflation Registered for ‘Food and Beverages’

The average goods and services Consumer Price Index of “food and beverages” in the 12-month period ending Dec. 21 increased by 58.3% year-on-year — the highest price rise among 12 groups of goods and services reviewed by SCI on a monthly basis.

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 Consumer Price Index of “food and beverages” 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%, SCI reported on its website.

New data released by SCI show the downtrend in annualized inflation continued in the third consecutive month.

The overall goods and services Consumer Price Index in the 12-month period ending Dec. 21 increased by 43.4% year-on-year. 

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%.

Inflation in Tehran Province

The average goods and services CPI in the 12-month period ending Dec. 21 for Tehran Province, wherein lies the capital city, increased by 39.7% compared with the corresponding period of last year.

SCI had put Tehran’s average annual inflation rate for the preceding Iranian month, which ended on Nov. 21, at 40.3%. 

The consumer inflation for the month under review registered an increase of 34.4% year-on-year while it was 34.1% in the preceding month. 

The overall CPI of Tehran Province stood at 378.1 during the period under review, indicating a 1.4% rise compared with the previous month. Month-on-month consumer inflation was 2.2% for the preceding month. 

SCI put Tehran Province’s urban and rural 12-month inflation rates for the month under review at 39.6% and 42.1%, respectively. 

CPI registered a year-on-year increase of 34.4% for urban areas and 34.8% for rural areas in the month under review. 

The overall CPI reached 377.9 for urban households and 381.5 for rural households, indicating a month-on-month increase of 1.4% for urban areas and 0.5% for rural areas.