“Communications”, one of 12 groups of goods and services surveyed by the Statistical Center of Iran, registered an average annualized inflation rate of 9.8% in the 11th month of the current Iranian year (Jan. 21-Feb. 19) — the lowest among the groups reviewed.
The month-on-month and year-on-year inflation rates of the group reached 1.6% and 54.3% respectively. The YOY rate was the lowest among the groups surveyed.
The 12 groups of the basket of consumer goods and services surveyed by SCI include "food and beverages" with a coefficient of 26.64%, "tobacco" with 0.59%, "clothing and shoes" with 4.78%, “housing and utilities" with 35.5% (highest), "furniture, home appliances and their maintenance" with 3.93%, "health and medical 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%.
New data released by the Statistical Center of Iran show the annualized inflation reported by the center on a monthly basis has reached a new high.
The average annualized inflation in the month under review stood at 47.7%, SCI said in the new report.
Only in the fiscal 1995-96 and 1996-97 did the country experience inflation rates above the current level.
Notably, this is the ninth consecutive month the annualized inflation is rising after the government put into effect what it touted as “economic surgery” by abolishing the heavily subsidized import of essential goods.
The general goods and services Consumer Price Index (using the Iranian year to March 2017 as the base year) stood at 608 in the month under review, indicating a month-on-month rise of 3.5% and a year-on-year rise of 53.4%.
The highest annualized inflation rate was registered for “hotels and restaurants” with 76.4%.
The highest and lowest MOM inflation rates were respectively registered for “food and beverages” with 4.8% and “education” with 0.5% month-on-month, respectively.
“Hotels and restaurants” with 78.9% saw the highest YOY inflation.
