Producer price index in Iran falls below 10%

Baku, Azerbaijan, Sept. 29

By Umid Niayesh - Trend:

The producer price index (PPI) for the 12-month period to the sixth Iranian calendar month of Shahrivar (ended on Sept. 22) indicates an increase by 9.3 percent year on year.

Setting the Iranian fiscal year 1390 (March 21, 2011 to March 20, 2012) as the main one, that is 1390=100, the PPI reached 215.5 for the Iranian month of Shahrivar this year (which fell on Aug. 22 to Sept. 22).

This comes with a 0.3 percent fall compared to the preceding month, the Central Bank of Iran reported Sept. 29.

The PPI for the mentioned month shows 4.6 percent growth compared to the same month of last year.

The highest growth was related to the health and social service sector, with 27.2 percent growth, and the lowest growth was related to the manufacturing sector, with 1.9 percent growth.

PPI measures the average change in selling prices received by domestic producers of goods and services over time. The PPI envisages three areas of production: industry-based, commodity-based, and stage-of-processing-based companies.

PPI in Iran is measured based on the prices of 708 items of goods and services categorized into eight groups of agriculture, forestation, and fishery, industry, transportation and warehousing, hotels and restaurants, information and telecommunication, education, health and social welfare, and other public and private services.

The core PPI can serve multiple roles in improving investment-making decisions because it can serve as a leading indicator for Consumer Price Index (CPI), which is the most frequently cited measure of inflation.

Edited by CN

Follow the author on Twitter: @UmidNiayesh

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