Economy, Domestic Economy
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Record Low Inflation

Record Low InflationRecord Low Inflation

The goods and services consumer price index for urban areas (CPI-U) increased 14.3 percent in the twelve-month period ending on May 21, which marks the end of the second month of the Iranian calendar year Ordibehesht, compared to the same period last year. The figure indicates a 0.2 percent decline compared to a month earlier, as reported by the Statistical Center of Iran (SCI).

This is the lowest inflation rate since the new administration led by President Hassan Rouhani assumed office in August 2013.

The overall index (using 1390 as the base year) stood at 208.8 during the month, indicating 0.5% growth compared with the previous month.

Year-on-year increase of 13.7% was recorded in price index compared with similar month in the previous year – 0.3% lower than the changes recorded in the preceding month.

The sub-index for ‘food, beverage and tobacco’ stood at 247.8 during the month, indicating no changes compared with the previous month. The index increased by 14.7% compared with the similar month last year.

The CPI index for ‘foods’ sub-category remained the same as the previous month at 246.1. The sub-index grew by 15.3% compared with similar period in the preceding year.

The sub-index for ‘non-food and services’ category reached 195.4, indicating a 0.6% decrease compared with the previous month. Also, 13.3% increase was recorded in the category’s sub-index compared with the similar period last year.

The SCI had earlier reported CPI inflation of 14.5 percent in the twelve-month period ending on April 20, which marks the end of the first month of the Iranian calendar year Farvardin, with 14% year-on-year increase in the price index. The overall index (using 1390 as the base year) stood at 207.9.

Financialtribune.com