PPI Inflation at 8.9%

The average Producer Price Index in the 12 months ending Oct. 22, which marks the end of the Iranian month of Mehr, increased by 8.9% compared with last year’s corresponding period, the latest report by the Central Bank of Iran said. The CBI put the preceding month’s PPI inflation at 8.2%. A year-on-year increase of 11.6% was registered in the index compared with the similar month of last year. The PPI (using Iranian year to March 2012) stood at 250.6 in Mehr, indicating a 1.3% rise compared with the previous month. Changes in PPI are usually reflected in Consumer Price Index within a short period of time. According to the Central Bank of Iran, the average goods and services Consumer Price Index for urban areas in the 12 months ending Oct. 22 increased by 9.8% compared with last year’s corresponding period.