Iran's producer price index increases

Baku, Azerbaijan, Nov. 1

By Fatih Karimov – Trend:

Iran’s Producer Price Index (PPI) indicated an increase of 8.9 percent, in a 12-month period to the seventh Iranian calendar month of Mehr (ended Oct. 22).

The PPI registered a 1.3 percent rise compared to the preceding month, and a 11.6-percent growth compared to Oct. 22, 2016, the Central Bank of Iran (CBI) announced, Nov. 1.

Taking the Iranian fiscal year of 1390 (March 21, 2011 to March 20, 2012) as the main one (that is 1390 equals 100) the PPI had reached 250.6 points in the Iranian month of Mehr (Sept. 22-Oct. 22).

The Iranian index is measured based on the prices of 708 items of goods and services, categorized into several groups: agriculture, forestry, fishery, industry, transportation and warehousing, hotels and restaurants, information and telecommunication, education, health and social welfare, and other public and private services.

The highest growth was related to the industry sector, with a 13.6-percent growth, and the lowest growth was registered in the transportation sector, with a 6.7-percent growth.

The agriculture and fishery sectors registered a growth of 13.5 percent each. Meanwhile, the index related to the healthcare and social welfare sector witnessed an 8.7-percent growth, year on year.

The service sector also registered an annual increase of 7.7 percent.

The IT, as well as hotels and restaurants sectors witnessed growth by 6.9 and 12 percent respectively.

Education sector also registered an annual growth by 8.8 percent, according to the report.

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

It should be noted that, the core PPI can serve multiple roles in improving the investment-making decision process, because it’s viewed as a leading indicator for the Consumer Price Index (CPI), which is the most frequently cited measure of inflation.

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