The review of the decade ending fiscal 2021-22 shows Iran experienced the highest inflation of 40.2% in the same year, the Economic Studies Department of Tehran Chamber of Commerce, Industries, Mines and Agriculture announced.
Citing data from the Statistical Center of Iran and the Central Bank of Iran, the survey shows single-digit inflation was experienced in only four years from the fiscal 1978-79 to the fiscal 2021-22 (44 years since the Islamic Revolution).
Statistics provided by SCI and CBI on inflation rate happen to differ marginally.
After the fiscal 1995-96, which registered an inflation rate of 49.4%, the fiscal 2021-22 was the second year to show an inflation rate of over 40%.
As CBI put fiscal 2019-20 inflation at 41.2%, the economy experienced an inflation of over 40% in three years during the period and 30-40% in two years.
In the 12th month of fiscal 2021-22 (Feb. 20-March 20), the rate of monthly changes in the price index of consumer goods and services of Iranian households reached 1.3%, which shows decline compared to previous month.
Inflation in the month under review was 34.7% and during the 12 months leading to March 20 was 40.2%.
The inflation rate was 42.8% for rural households in the fiscal 2021-22 and 39.7% for urban households.
After the fiscal 1995-96 registered an inflation rate of 49.4%, the fiscal 2021-22 was the second year that saw the Iranian economy with an inflation rate of above 40%
The breakdown of major groups shows the “food and beverage” group was the biggest contributor to the fiscal 2021-22 inflation with 16.7 percentage points followed by “housing and utilities (water, electricity, natural gas and other fuels)” with 6.6 percentage points, transportation with 4.5 percentage points, “clothing and shoes” with 2.7 percentage points, “furniture, home appliances and their maintenance” with 2.4 percentage points and "health and treatment” with 2.2 percentage points.
The price increase of the energy group (water, electricity and fuel) in the fiscal 2021-22 compared to the previous year was 24.5% and its share in the inflation was a meager 0.7 percentage points.
The lowest increase in the Consumer Price Index in the fiscal 2021-22 belongs to the communication group with a rate of 6.4%. The lowest share in the inflation belongs to this group as well with 0.12 percentage points.
Among "food and beverage” items, three commodity groups, including “bread and cereals”, “red meat and poultry" and vegetables, together accounted for about 50% of the 16.74 percentage point share of the food and beverage group in the inflation of fiscal 2021-22.
From the viewpoint of commodity classification, the highest contribution to inflation in the fiscal 2021-22 belongs to the group of non-durable goods with 21.4 percentage points.
