Services PPI Inflation Hit Record High in 2nd Quarter

New data released by the Statistical Center of Iran show producer price inflation in the services sector has reached record highs.
The overall Producer Price Index for the services sector (using 2011 as the base year) stood at 500.9 in the second quarter of the current fiscal year (June 21-Sept. 21), indicating a 13.8% increase compared with the preceding quarter–the highest quarter-on-quarter rise since summer 2011, the earliest available data on services producers' inflation on the Statistical Center of Iran website. 
The index saw a 34.2% increase compared with last year’s same quarter, which is the highest year-on-year inflation since spring 2012.
The average PPI for the services sector in the four-quarter period ending Sept. 21 increased by 28.7% compared with the same period of last year. The sector’s average PPI for the four-quarter period to June 20, end of Q1 of the current Iranian year, had increased by 27.6% year-on-year.