The average goods and services Consumer Price Index of “food and beverages” in the 12-month period ending March 20, which marks the final day of the fiscal 2021-22, increased by 51.9% compared with the preceding year’s corresponding period.
With a coefficient of 26.64%, the CPI of the group stood at 540.7 in the month to March 20, indicating a 1.7% increase compared with the previous month.
The index registered a year-on-year increase of 40.8%, the Statistical Center of Iran reported.
The overall goods and services CPI in the 12-month period ending March 20 increased by 40.2% year-on-year.
The annualized inflation reported on a monthly basis by SCI indicates the fifth consecutive month of decline.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Feb. 19, at 41.4%.
The consumer inflation for the month under review (Feb. 20-March 20) registered an increase of 34.7% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Feb. 19 was 35.4%.
The overall CPI (using the Iranian year to March 2017 as the base year) stood at 401.5 for the month ending March 20, indicating a 1.3% rise compared with the month before. Month-on-month consumer inflation was 2.1% for the preceding month.
SCI put average inflation for urban and rural areas at 39.7% and 42.8%, respectively.
CPI registered a year-on-year increase of 34.5% for urban areas and 35.8% for rural areas in the month.
With a coefficient of 26.64%, the CPI of the group stood at 540.7 in the month to March 20, indicating a 1.7% increase compared with the previous month. The index registered a year-on-year increase of 40.8%
The overall CPI reached 396.6 for urban households and 429.2 for rural households, indicating a month-on-month increase of 1.2% and 1.6%, 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 March 20 was recorded for “clothing and shoes” with 4.4% and “transportation” that remained unchanged month-on-month.
The highest year-on-year inflation in the month under review was posted for “hotels and restaurants” with 56.7% while the lowest YOY inflation was registered for “communications” with 4%.
The highest and lowest annualized inflation rates were registered for “hotels and restaurants” with 61.6% and “communications” with 6.4%.
In a new report, SCI reviewed price changes of 53 food products during the fiscal month ending March 20.
The biggest month-on-month price rise for a food item in urban areas was recorded for bell pepper with 45.4%, which was sold for 220,860 rials (82 cents) per kilogram.
The second and third biggest month-on-month price increase during the period under review was registered for first-grade Iranian rice with 10.7% and potato with 8.3%.
First-grade Iranian rice was sold at 745,008 rials ($2.78) per kg and potato went for 145,073 rials (54 cents) per kg.
Five out of 53 food items examined by SCI saw a price decline in the 12th Iranian month (Feb. 20-March 20) compared with the previous month.
Carrot with 7.3%, cucumber with 3%, tomato with 0.6%, onion with 0.3% and yogurt drink with 0.2% registered the highest month-on-month deflation. Carrot was sold at 77,465 rials (29 cents), cucumber 129,737 rials (48 cents), tomato 125,492 rials (47 cents), onion 86,717 rials (32 cents) and yogurt drink 151,537 rials (57 cents) per 1.5 liters.
Compared with the same month of the year before, the retail price of potato increased by 180.5%, registering the highest year-on-year price rise. A kilogram of potato was sold at 145,073 rials (54 cents).
The second and third biggest year-on-year price rise was registered for tomato with 136.4% and first-grade Iranian rice with 113.3%. A kilogram of tomato was sold at 125,492 rials (47 cents) and a kilogram of tomato paste went for 745,008 rials ($2.78).
Four out of 53 food items registered a year-on-year price deflation in the month under review. Banana with 27.4%, hydrogenated vegetable oil with 11.6%, carrot with 5.5% and cucumber with 1.4% experienced the highest month-on-month deflation. Bell pepper was sold at 220,860 rials (82 cents), carrot at 77,465 rials (29 cents) and tomato 125,492 rials (47 cents).
