Producer Price Index slides in Iran
BAKU, Azerbaijan, May 2
By Elnur Baghishov - Trend
The Producer Price Index (PPI) decreased from 1.6 percent to -0.8 percent in the first month of the current Iranian year (from March 20, 2020 through April 19, 2020), said Director General of the Central Bank of Iran (CBI) Abdul-Nasser Hemmati, Trend reports citing CBI’s official website.
According to Hemmati, the producer price index decreased by 2.4 percent compared to the preceding month (February 20, 2020 - March 19, 2020).
Hemmati added that last month's PPI reached 20.9 percent in point-to-point inflation compared to the preceding month.
Given the decline in producer investment, it may indicate, that there will be further decrease in PPI in the future, said the director.
The inflation rate reached 19.8 percent in the first month of this Iranian year on an annualized basis.
According to the CBI report, families spent an average by 19.8 percent more on purchase of some products and services.
During the first month of the current Iranian year, the PPI in the groups of food, beverages and tobacco products decreased by 3.9 percent and reached 24 percent, while in the non-food and services sector it decreased by 1.0 percent and amounted to 24.7 percent.