The “food and beverage” group has registered the highest rise in prices among the 12 groups of the basket of consumer goods and services purchased by households.
With a coefficient of 26.64%, the Consumer Price Index of “food and beverages” stood at 458.8 in the month ending Sept. 22, indicating a 5.1% increase compared with the previous month.
The average goods and services CPI of the group in the 12-month period ending Sept. 22, which marks the end of the sixth Iranian month of fiscal 2021-22, increased by 59.9% compared with last year’s corresponding period.
The “food and beverage” index registered a year-on-year increase of 62.4%.
Latest data released by the Statistical Center of Iran show the rising inflation in the country has maintained its upward momentum in the sixth month of the current fiscal year (Aug. 23- Sept. 22).
The average overall goods and services Consumer Price Index in the 12-month period under review increased by 45.8% compared with the corresponding period of the year before. This is a new record high.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Aug. 22, at 45.2%.
The consumer inflation for the month under review (Aug. 23-Sept. 22) registered an increase of 43.7% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Aug. 22 was 43.2%.
The overall CPI (using the Iranian year to March 2017 as the base year) stood at 351.1 for the month, indicating a 3.9% rise month-on-month.
SCI put average inflation for urban and rural areas at 45.1% and 49.7%, respectively.
The CPI registered a year-on-year increase of 42.9% for urban areas and 47.8% for rural areas in the month ending Sept. 22.
The overall CPI reached 347.5 for urban households and 370.9 for rural households, indicating a month-on-month increase of 4% and 3.6%, 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 July 22 was recorded for “food and beverage” group with 5.1% and “communications” group with 1.3%.
The highest year-on-year inflation in the month under review was posted for “hotels and restaurants” with 65.6% while the lowest YOY inflation was registered for “communications” with 5.5%.
The highest and lowest annualized inflation was registered for “furniture, home appliances and their maintenance” with 60.9% and “communications” with 16.8%.
Food Price Changes
The biggest month-on-month price rise for a food item in urban areas during the month under review was recorded for oranges with 40.5%, such that a kilogram of oranges was sold at 269,350 rials ($1.06).
The second and third biggest month-on-month price increases during the period were registered for watermelons with 27.1% and zucchini with 23.2%, the Statistical Center of Iran reported.
A kilogram of watermelons was sold at 60,803 rials (22 cents) and a kilogram of zucchini went for 100,820 rials (36 cents).
Six out of 53 food items examined by SCI this month saw a price decline in the sixth Iranian month (Aug. 23-Sept. 22) compared with the month before. Hydrogenated vegetable oil with 3%, chicken with 2.4% and cooking oil with 1.9% registered the highest month-on-month deflations. A kilogram of hydrogenated vegetable oil was sold at 207,321 rials (74 cents), a kilogram of chicken at 295,892 rials ($1.05 cents) and a kilogram of cooking oil at 173,270 rials (62 cents).
Compared with the same month of the year before, the retail prices for carrots during the month increased by 294.2%, registering the highest year-on-year price rise for a food item. A kilogram of carrots was sold at 210,665 rials (75 cents).
The second and third biggest year-on-year price rises in the same month among food items were registered for watermelon with 144.8% and tomato with 132.1%. A kilogram of watermelon was sold at 60,803 rials (22 cents) and a kilogram of tomatoes went for 81,093 rials (29 cents).
No item registered a year-on-year price deflation in the month ending Sept. 22.
