The average annual inflation gap measured by the Statistical Center of Iran among income deciles stood at 3.2% in the eighth Iranian month (Oct. 23-Nov. 21), indicating a 0.4 percentage point increase compared with the previous month (2.8%).
The inflation gap in “food, beverages and tobacco” group among income deciles decreased by 1.1 percentage points and that of “non-food and services” group reduced by 2.8 percentage point compared with the previous month.
The average goods and services Consumer Price Index in the 12-month period ending Nov. 21 increased by 47% for the first decile (those with the lowest income) while it grew 44.6% for the 10th decile (those with the highest income).
The annual inflation of “food, beverages and tobacco” surged by 60.2% for the first decile and 58.7% for the 10th decile. “Non-food and services” inflation grew by 33.9% for the first decile and 41.2% for the 10th decile.
Average annual inflation rates swelled by 47.2% for the second decile compared with last year’s corresponding period; 46.4% for the third decile; 45.7% for the fourth; 45.2% for fifth decile; 44.7% for the sixth decile; 44.5% for seventh decile and 44% for the eighth and ninth deciles.
The highest overall CPI (using the Iranian year to March 2017 as the base year) stood at 398.7 for the 10th decile and the lowest calculated was 372.4 for the sixth decile.
The first decile registered a 2.7% month-on-month inflation; the second and third deciles saw monthly inflation of 2.5%; the fourth and the fifth deciles 2.4%; the sixth decile 2.3%; seventh and eighth 2.4%; ninth 2.5% and the 10th decile posted a 2.8% month-on-month inflation rate.
The year-on-year inflation rates increased by 38.3% for the first decile during the month under review; 38.4% for the second; 37.7% for third; 37.4% for fourth; 36.9% for fifth; 36.3% for sixth; 35.6% for seventh; 34.8% for eighth; 33.5% for ninth; and 31.8% for 10th decile.
Income deciles are groupings that result from ranking either all households or all persons in the population in the ascending order according to income, and then dividing the population into 10 groups, each comprising approximately 10% of the estimated population.
Latest CPI data released by the Statistical Center of Iran show the downtrend in annualized inflation registered in the seventh fiscal month (ending Oct. 22) maintained momentum in the eighth month.
Inflation Hit 44.4%
Irrespective of income deciles, the average goods and services Consumer Price Index in the 12-month period ending Nov. 21 increased by 44.4% compared with the corresponding period of the year before.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Oct. 22, at 45.4%.
The consumer inflation for the month registered an increase of 35.7% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Oct. 22 was 39.2%.
The overall CPI stood at 373 for the month ending Nov. 21, indicating a 2.5% rise compared with the previous month that registered a month-on-month consumer inflation of 3.7%.
SCI put average inflation for urban and rural areas at 43.6% and 48.3%, respectively.
CPI registered a year-on-year increase of 35.3% for urban areas and 37.4% for rural areas in the month.
The overall CPI reached 368.9 for urban households and 396.4 for rural households, indicating a month-on-month increase of 2.4% 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 Nov. 21 was recorded for “transportation” and “tobacco”, each with 3.4%, and “communications” with 1%.
The highest year-on-year inflation in the month under review was posted for “hotels and restaurants” with 62.4% while the lowest YOY inflation was registered for “communications” with 1.2%.
The highest and lowest annualized inflation rates were registered for “food and beverages” with 60.1% and “communications” with 12.6%.
With a coefficient of 26.64%, the CPI of “food and beverages” for all Iranian households stood at 497.7 in the month ending Nov. 21, indicating a 3.1% increase compared with the previous month. The index registered a year-on-year increase of 47%.
The CPI of the group increased by 60.1% in the 12-month period ending Nov. 21 compared with last year’s corresponding period.
