As in previous cost-push price increases, inflation spiked three months ago following the removal of food subsidies, but in the last two months it has moderated.
Last [Iranian] month [ended Aug. 21] prices rose by under 2% [annual rate=26.3%], much lower than in June and July. Prices will moderate further if a nuclear deal is reached and sanctions ease, reads economist Djavad Salehi Isfahani’s latest post on his weblog. The full text follows:
Data from the survey of expenditures of incomes for the Iranian year 1400 [March 2021-22] published by the Statistical Center of Iran last week offers more insight into how living standards changed in 2021. Per capita expenditures in real terms increased by 7.1% in rural and 10.1% in urban areas [my calculations from the raw survey data].
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