An increase of 59% was registered in the Producer Price Index in the Iranian month Mehr (Sept. 23-Oct. 22) compared with the similar month of last year, the latest report by the Central Bank of Iran announced.
The PPI (using Iranian year to March 2017 as the base year for the first time) stood at 176 in Mehr, indicating an 11.5% rise compared with the previous month.
The average PPI in the 12 months ending Oct. 22 grew by 22.4% compared with last year’s corresponding period. CBI put the preceding month’s annual PPI inflation at 18.2%.
Out of eight main groups, the “industry” group registered the highest growth in monthly producer price index with 14.3% and a year-on-year increase of 82.1%.
“Agriculture, forestry and fishing” posted a monthly rise of 10.6% and a YOY increase of 48.5%.
“Transportation and warehousing” saw a monthly PPI rise of 11.3% and a YOY increase of 50.4%.
“Hotel and restaurant” experienced a monthly PPI increase of 4.5% and a YOY growth of 28.1%.
The monthly PPI for “education” increased by 9% and its YOY PPI grew 18.9%.
“Health and social work” recorded a monthly rise of 1.7% and a YOY increase of 16.9%.
The group categorized as “other public, social and individual services” registered a monthly rise of 2.2% and a YOY rise of 20.3%.
The lowest monthly and YOY growth was registered in the PPI of “information and communications” with 0% and 0.8%, respectively.
The monthly PPI of the exclusive group of “services” grew 7.2% and its YOY PPI increased 32.9%.
The importance of PPI lies in its predictive content for the future pattern of Consumer Price Index. Changes in PPI are usually reflected in CPI within a short period of time.
The goods and services CPI for urban areas for the Iranian month Mehr, (ended Oct. 22), increased by 36.9% compared with the similar month of last year, according to the central bank’s latest report.
The overall CPI stood at 148.4 in Mehr, indicating a 4.6% increase compared with the previous month.
The average CPI in the 12 months ending Oct. 22 increased by 15.9% compared with last year’s corresponding period.
