The average goods and services Consumer Price Index in the 12-month period ending Feb. 19, which marks the end of the 11th month of the current Iranian year increased by 54.2% compared with last year’s corresponding period.
Latest data on consumer inflation released by the Statistical Center of Iran show the CPI of the group, with a coefficient of 26.64%, stood at 531.8 in the month to Feb. 19, indicating a 3.9% increase compared with the previous month — the highest among 12 groups of goods and services surveyed by SCI on a monthly basis.
The index registered a year-on-year increase of 40.9%.
The new SCI data show the annualized inflation has maintained its monthly downtrend after registering a high of 45.4% in the month to Oct. 22.
The general goods and services CPI in the 12-month period ending Feb. 19 increased by 41.4% compared with the corresponding period of the year before, marking the fourth consecutive month of decline.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Jan. 20, at 42.4%.
The consumer inflation for the month under review (Jan. 21-Feb. 19) registered an increase of 35.4% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Jan. 20 was 35.9%.
The overall CPI (using the Iranian year to March 2017 as the base year) stood at 396.4 for the month ending Feb. 19, indicating a 2.1% rise compared with the month before. Month-on-month consumer inflation was 2.4% for the preceding month.
SCI put average inflation for urban and rural areas at 40.8% and 44.2%, respectively.
CPI registered a year-on-year increase of 35.3% for urban areas and 35.8% for rural areas during the month under review.
The overall CPI reached 384.1 for urban households and 422.7 for rural households, indicating a month-on-month increase of 2% and 2.7%, 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 Feb. 19 was recorded for “food and beverages” with 3.9% and “communications” with -0.1%.
The highest year-on-year inflation in the month under review was posted for “hotels and restaurants” with 59.7% while the lowest YOY inflation was registered for “communications” with 3.8%.
The highest and lowest annualized inflation rates were registered for “hotels and restaurants” with 61.2% and “communications” with 7.6%.
The Statistical Center of Iran has reviewed price changes of 53 food products during the fiscal month ending Feb. 19.
The biggest month-on-month price rise for a food item in urban areas was recorded for potato with 26.1%, which was sold for 133,910 rials (52 cents) per kilogram.
The second and third biggest month-on-month price increase during the period under review was registered for eggplant with 19.2% and first-grade Iranian rice with 18.2%.
Eggplant was sold at 118,554 rials (46 cents) per kg and first-grade Iranian rice went for 673,004 rials ($2.59) per kg.
Five out of 53 food items examined by SCI registered a price decline in the 11th Iranian month (Jan. 21-Feb. 19) compared with the previous month.
Egg with 3.8%, carrot with 1.1% and hydrogenated oil with 1% showed the highest month-on-month deflation. Egg was sold at 279,341 rials ($1.08), carrot 83,561 rials (32 cents) and hydrogenated oil 199,722 rials (77 cents).
Compared with the same month of the year before, the retail prices of potato increased by 152.2%, registering the highest year-on-year price rise. A kilogram of watermelon was sold at 133,910 rials (52 cents).
The second and third biggest year-on-year price rise was registered for watermelon with 118.1% and tomato paste with 96.9%. A kilogram of watermelon was sold at 105,947 rials (41 cents) and a kilogram of tomato paste went for 386,797 rials ($1.49).
Banana, cucumber and hydrogenated oil registered a year-on-year price deflation in the month under review.
