BAKU, Azerbaijan, May 23. Iran's point-to-point inflation rose by 31 percent in the 2nd month of the current Iranian year (from April 20 through May 20, 2024) compared to the same month of last year (from April 21 through May 21, 2023), the report of Iran's Statistical Center said, Trend reports.
According to the report, families spent an average of 31 percent more on a range of products and services during the second month in Iran.
Meanwhile, inter-point inflation is the percentage change in the number in the price index compared to the same period last year.
The report shows that the price index for the second month was 243.
The information indicates that point-to-point inflation for the second month was 22.8 percent in the beverages and tobacco group and 35.5 percent in the non-food goods and services sector.
Furthermore, the report added that point-to-point inflation for the second month was 31.6 percent in urban areas and 27.6 percent in rural areas.
Moreover, according to the report, the country's monthly inflation rate for the 2nd month was 2.8 percent, up 0.2 percent from the 1st month of this year (from March 20 through April 19, 2024).
Monthly inflation is the percentage change in the number of price indexes compared to the previous month.
In Month 2, the monthly inflation rate was 2.8 percent in urban areas and 2.7 percent in rural areas.
The report notes that at the end of Month 2, annual (from May 21 2023 through May 20, 2024) inflation fell 1.8 percent from the previous period (from May 21, 2022 through May 20, 2023) to 38 percent.
Annual inflation denotes the average percentage change in price index indicators over the last year.
In addition, the annual inflation rate stood at 37.2 percent in urban areas of Iran and 35.6 percent in rural areas at the end of the second month.
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