PPI Inflation at 7.6%

The average Producer Price Index in the 12 months ending August 22, which marks the end of the Iranian month of Mordad, increased by 7.6% compared with last year’s corresponding period, the latest report by the Central Bank of Iran announced. CBI put the preceding month’s PPI inflation at 7%. A year-on-year increase of 10% was registered in the index compared with the similar month of last year. PPI (using Iranian year to March 2012 as the base) stood at 243.8 in Mordad, indicating a 1.7% rise compared with the previous month. The importance of PPI lies in its predictive content for the future pattern of Consumer Price Index. Changes in PPI are usually reflected in CPI within a short period of time. The central bank’s latest data on CPI put Mordad inflation at 10%.