The average annualized food inflation stood at 49.6% in the month to May 21, latest data released by the Statistical Center of Iran show.
The Consumer Price Index of “food and beverage” group stood at 586.1 in the second month of the current Iranian year (April 21-May 21), indicating a 3.3% increase against the previous month.
The index registered a year-on-year increase of 49.6%.
With 26.64%, the “food and beverage” group has a major impact on the overall inflation rate.
The 12 groups of goods and services surveyed by the SCI on a monthly basis also include "tobacco" with 0.59%, "clothing and shoes" with 4.78%, "housing, water, electricity, natural gas and other fuels" with 35.5% (highest), "furniture, home appliances and their maintenance" with 3.93%, "health and treatment" with 7.14%, "transportation" with 9.41%, "communications" with 2.87%, "leisure and culture" with 1.65%, "education" with 1.86%, "hotels and restaurants" with 1.44% and "miscellaneous items and services" with 4.18%.
The overall goods and services CPI in the 12-month period ending May 21 increased by 38.7% compared with the corresponding period of the year before.
SCI had put the average annual inflation rate for the preceding Iranian month (ended April 20) at 39.2%. It put average inflation for urban and rural areas at 38.3% and 40.8%, respectively.
CPI registered a YOY increase of 39.2% for urban areas and 40.1% for rural areas in the month.
The overall CPI reached 424.4 for urban households and 459.2 for rural households, indicating a month-on-month increase of 3.7% and 2.8%, 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 May 21 was recorded for “food and beverages”, “hotels and restaurants” and “miscellaneous goods and services” with 6.7% each and education at 0.5% month-on-month.
The highest year-on-year inflation in the month under review was logged by “hotels and restaurants” with 61% while the lowest YOY inflation was registered by “communications” with 7.6%.
The highest and lowest annualized inflation rates were registered for “hotels and restaurants” with 61.1% and “communications” 4.8%.
Prices of 53 Food Products Cited
SCI has reviewed price changes in 53 food products during the fiscal month ending May 21 in a separate report.
The biggest month-on-month price rise for a food item in urban areas was recorded for macaroni with 49%, which was sold for 110,724 rials (36 cents) per 500 grams.
The dramatic rise came after the government liberalized flour prices, leading to a chain of price hikes in downstream food industries, including macaroni factories as well as confectionaries and baby formula.
The second and third biggest month-on-month price increase during the period under review was registered for vegetable oil with 22.3% and hydrogenated oil with 19%.
Vegetable oil was sold at 215,910 rials (70 cents) per 900 grams and hydrogenated oil went for 240,644 rials (79 cents) per kg.
Seven out of 53 food items examined by SCI saw a price decline in the second fiscal month (April 21-May 21) compared with the previous month.
Tomato with 16.6%, watermelon with 12.8%, cucumber with 9.2%, carrot with 2.6%, potato with 0.6%, banana with 0.4% and mushroom with 0.1% were sold at 133,532 rials (44 cents), 71,904 rials (23 cents), 131,333 rials (43 cents), 78,482 rials (26 cents), 149,030 rials (49 cents), 262,338 rials (86 cents) and 516,222 rials ($1.68) respectively.
Compared with the same month of the previous year, the retail prices of potato increased by 175.1%, registering the highest year-on-year price rise. A kilogram of potato was sold at 149,030 rials (49 cents).
The second and third biggest year-on-year price rise was registered for first-grade Iranian rice with 126.8% and tomato paste with 108.8%. A kilogram of first-grade Iranian rice was sold at 819,612 rials ($2.67) and a kilogram of tomato paste went for 419,523 rials ($1.37).
Only one out of 53 food items registered a year-on-year price deflation in the month under review: Carrot declined by 7.4% and was sold at 78,482 rials (26 cents).
