Hotels and restaurants have logged the highest inflation in a new report released by the Statistical Center of Iran.
The average goods and services Consumer Price Index of “hotels and restaurants” in the 12 months to May 21, which marks the end of the second month of the current Iranian year, increased by 61.1% compared with the corresponding period of last year — the highest among 12 groups of goods and services surveyed by SCI on a monthly basis.
The group’s CPI came in at 509 in the month to May 21, up 6.7% over the previous month.
This is while the year-on-year increase was registered at 61%.
Apart from “food and beverages”, the 12 groups of goods and services surveyed by SCI on a monthly basis 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%.
The goods and services Consumer Price Index (using the Iranian year to March 2017 as the base year) stood at 429.6 for the month to May 21, indicating a 3.5% rise compared to the month before — the highest in six months.
Month-on-month consumer inflation was 3.3% in the preceding month.
Consumer price inflation for the month under review (April 21-May 21) jumped 39.3% over the same month in the previous fiscal while year-on-year inflation in the month ending April 20 was 35.6%.
SCI 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%.
