...

Central Bank: Iranians’ food costs soar from 50 to 165 per cent in one year

Iran Materials 5 May 2012 08:59 (UTC +04:00)

Azerbaijan, Baku, May 4/Trend M. Moezzi

The Thursday edition of the Jahan-e Sanat and Shargh Newspapers devoted their headlines to the Central Bank of Iran's (CBI) report on the inflation of food prices while the newspaper Tehran Emrooz detailed a "verbal altercation during the cabinet's meeting" over high prices.

Jahan-e Sanat's May 3rd lead story cites the CBI's report that some food prices 'grew as much as 50 per cent in the first eight days of the current (Iranian) month' and says that inflation is at a gallop.

The newspaper said 'milk, yogurt, various dairy items, mutton, beef, legumes, fruit and vegetables' became more expensive last week. The CBI reported the country's inflation rate stood at 21.5 per cent as recently as late March. Although the latest food prices cited by the CBI don't include all 360 items used to calculate the inflation rate, the bank's report has raised concerns over the inflation rate, says Jahan-e Sanat.

Shargh's main story compares this year's food costs with last year's and reports a '50 to 156 per cent increase in food prices'.

The newspaper writes that 'prices have gone crazy' and says 'that's the conclusion that can be reached after reviewing official reports, especially the report issued by the CBI on Wednesday (yesterday) about retail food prices'.

The bank's report comparing prices with the same time last year 'shows prices at the end of the first week of Ordibehesht (the current Iranian month) are 156 per cent greater than this time last year'.

Shargh writes 'prices for red meat grew 45 per cent, fresh leafy vegetables 156 per cent, tea 33 per cent, vegetable oil, sugar and sugar cubes 42 per cent, legumes 50 per cent and dairy products 51 per cent' in one year.

Tags:
Latest

Latest