The Producer Price Index in the four-quarter period ending Dec. 21, which marks the end of the third quarter of the current Iranian year, grew by 60.9% compared with the corresponding period of last year.
The lowest and highest annualized producer inflation was registered for “production, transmission and distribution of electricity” and “mining” with 30.6% and 107.3%, respectively.
The PPI (using fiscal 2016-17 as the base year) stood at 515.3 in Q3 (Sept. 23-Dec. 21), indicating a 10% increase compared with the previous quarter and a 48.6% growth over the same quarter of last year, the Statistical Center of Iran reported.
The lowest and highest quarter-on-quarter producer inflation was registered for mining with 4.4% and agriculture with 11.3%, respectively.
When compared with the same quarter of last year, “production, transmission and distribution of electricity” posted the lowest PPI of 48.6% and “mining” registered the highest PPI of 79.9% in the third quarter of the current year.
Services
The overall PPI for the services sector stood at 394.6 in Q3, indicating a 10% increase compared with the preceding quarter.
The index indicates a 45.8% increase compared with the same quarter of the year before.
The services PPI is calculated based on the indexes of 13 subsectors, namely “water networks, wastewater management and wastewater treatment” with a coefficient of 1.2%, “repairing motor vehicles and motorcycles” with 2.8%, “transportation and warehouse services” with 23.2%, “services related to accommodation and food” with 4.8%, “information and communications” with 8.5%, “insurance services” with 1.7%, “real-estate services” with 26.8%, “professional, scientific and technical activities” with 3%, “administrative and support services” with 1.7%, “education” with 9.3%, “social services” with 14.2%, “art, entertainment and leisure” with 1.1% and “services categorized as others” with 1.8%.
For “water networks, wastewater management and wastewater treatment”, PPI stood at 219.5 in Q3, indicating a respective increase of 7.2% and 32.7% compared with the previous quarter and the same quarter of the year before. The average annual PPI for the subsector in the four-quarter period ending Dec. 21 increased by 20.5%.
PPI for “repairing motor vehicles and motorcycles” stood at 621.8, indicating a 9.5% rise compared with the previous quarter and a 54.9% growth compared with the same quarter of the year before. The average PPI for the subsector in the four-quarter period ending Dec. 21 surged by 63.1%.
The index for “transportation and warehouse services” stood at 456.5, posting an 8.2% rise quarter-on-quarter and a 47.7% rise year-on-year. The average annual PPI for the subsector in the four-quarter period jumped by 53.9%.
For “services related to accommodation and food”, PPI stood at 845.8, registering a 16.9% increase QOQ and an 85.2% increase YOY. The average annual PPI for the subsector in the four-quarter period increased by 82.5%.
For “information and communications”, it stood at 257.3, indicating a 6.3% rise compared with the previous quarter and a 25.2% increase compared with the same quarter of the year before. The average annual PPI for the subsector in the four-quarter period increased by 24.2%.
“Insurance services” saw PPI stand at 248.4, registering a 6.7% rise QOQ and a 50.5% increase YOY. The average annual PPI for the subsector in the four-quarter period increased by 36.5%.
For “real-estate services”, the index was at 233, posting a 7.4% rise compared with the previous quarter and a 24% increase compared with the same quarter of the year before. The average annual PPI for the subsector in the four-quarter period increased by 24.8%.
“Professional, scientific and technical activities” had a PPI of 312.8, indicating a 6.8% rise over the preceding quarter and a 30.6% increase over the same quarter of the year before. The average annual PPI for the subsector in the four-quarter period increased by 37.4%.
The PPI measured for the subsector of “administrative and support services” stood at 698.3, showing a 10.9% growth compared with the previous quarter and a 62.6% increase over the same quarter of the year before. The average annual PPI for the subsector in the four-quarter period increased by 70.9%.
“Education” recorded a PPI of 341.3, indicating a 22.5% rise over the preceding quarter and a 34.2% increase over the same quarter of the year before. The average annual PPI for the subsector in the four-quarter period increased by 31.1%.
For “social services”, PPI stood at 514.1, indicating an 8.5% rise compared with the previous quarter and a 58.3% increase compared with the same quarter of the year before. The average annual PPI for the subsector in the four-quarter period increased by 55%.
“Art, entertainment and leisure” had a PPI of 412.8, indicating a 9.4% rise over the preceding quarter and a 48.7% increase over the same quarter of the year before. The average annual PPI for the subsector in the four-quarter period increased by 44.9%.
And, “services categorized as others” registered a PPI of 412.8, indicating a 9.4% rise over the preceding quarter and a 48.7% increase over the same quarter of the year before. The average annual PPI for the subsector in the four-quarter period increased by 52.3%.
Industry
The overall PPI of the industrial sector stood at 633.9 in Q3, indicating a 9.9% increase compared with the previous quarter and a 46.4% growth over the same quarter of the year before.
The industrial PPI in the four-quarter period ending Dec. 21 grew by 69.7% compared with the same period of the year before.
The lowest quarterly PPI inflation rates in Q3 were recorded for “production of base metals” with a coefficient of 2% and “production of computer, electronic and lighting products” with 3.2% and “production of pharmaceuticals, chemicals used in pharmacy and herbal remedies” with 3.4%. The highest quarterly PPI inflation rates were posted for “manufacturing of chemicals” with 18.4%, “production of food products” with 13.8% and “production of coke and oil refining products” with 12%.
The lowest year-on-year PPI inflation rate was registered for “production of tobacco” with 19.9%, “production of computer, electronic and lighting products” with 25.4% and “production of pharmaceuticals, chemicals used in pharmacy and herbal remedies” with 30.4%.
This while the highest year-on-year increase was posted by “printing and duplicating the recorded media” with 67.3%, “production of other non-metallic mineral products” with 65.7% and “manufacture of chemicals” with 62.8% compared with the same quarter of last year.
The lowest annual PPI inflation was recorded by “production of pharmaceuticals, chemicals used in pharmacy and herbal remedies” with 38.3%, “production of computer, electronic and lighting products” with 45% and “production of other products” with 45.6%.
Mining
The average Producer Price Index for the mining sector in the four-quarter period ending Dec. 21 increased by 107.3% compared with the same period of the year before.
The sector’s average PPI for the four-quarter period to Sept. 22, i.e., the end of Q2 of the current Iranian year, had increased by 116.1% year-on-year.
The average annual producer inflation of the “coal extraction” subsector in Q3 was at 90% and those of “extraction of metal ores” and “extraction of other mines” subsectors were at 113% and 67.3%, respectively.
The overall PPI of the mining sector (using the Iranian year ending March 2017 as the new base year) stood at 1,063.3 in Q3, indicating a 4.4% increase compared with the previous quarter and a 79.9% growth over the same quarter of last year.
The quarter-on-quarter producer inflation of the “coal extraction” subsector was at 11.1% in Q3 and those of the “extraction of metal ores” and “extraction of other mines” subsectors reached 3.7% and 9.9%, respectively.
The year-on-year producer inflation of the “coal extraction” subsector was 65.4% and those of the “extraction of metal ores” and “extraction of other mines” subsectors were 82.9% and 59.7%, respectively.
Electricity
PPI for the electricity sector during the four-quarter period ending Dec. 21 increased by 30.6% compared with the same period of the year before.
The sector’s PPI (using the Iranian year ending March 2017 as the base year) stood at 186 in the third quarter of the current Iranian year, indicating an increase of 6.9% compared with the preceding quarter and a growth of 18.6% compared with the same quarter of the year before.
Agronomy, Horticulture, Traditional Husbandry
The index for the “agronomy, horticulture and traditional husbandry” in the four-quarter period ended Dec. 21 increased by 70.1% compared with the year before.
SCI had put producer inflation of the four-quarter period leading to Sept. 22 (Q2) at 66.5%.
The overall PPI of this group (using the year ending March 2017 as the new base year) stood at 604.7 in Q3 (Sept. 22-Dec. 21), indicating a 67.8% increase compared with the same quarter of the year before.
Year-on-year producer inflation of the previous quarter had increased by 79.7%.
Industrial Chicken Farms
PPI for the “agronomy, horticulture and traditional husbandry” in the four-quarter period ended Dec. 21 increased by 70.1% compared with the year before.
SCI had put producer inflation of the four-quarter period leading to Sept. 22 (Q2) at 66.5%.
The overall PPI of this group (using the year ending March 2017 as the new base year) stood at 604.7 in Q3 (Sept. 22-Dec. 21), indicating a 67.8% increase compared with the same quarter of the year before.
Year-on-year producer inflation of the previous quarter had increased by 79.7%.
Industrial Livestock Farms
The average annual producer inflation for industrial-scale livestock farms stood at 67.9% in Q3.
PPI for livestock farms stood at 514 in Q3, indicating a 4.5% and 50.4% increase compared with the preceding quarter and the same quarter of the year before, respectively.
Ardabil Province posted the highest quarter-on-quarter producer inflation with 30.3% while Qom posted the lowest producer inflation with 1.3% compared with the preceding quarter.
Gilan registered the highest year-on-year producer inflation with 92.6% while Sistan-Baluchestan posted the lowest year-on-year producer inflation of 21.9% in Q3.
