Inflation rate in Iran falls

Business Materials 22 March 2018 13:53 (UTC +04:00)

Baku, Azerbaijan, March 22‎

By Gazenfer Hamidov – Trend:‎

The inflation rate in Iran’s urban areas for a 12-month period ending in the 12th Iranian calendar month of Esfand (ended on March 20) stood at 8.1 percent, 0.1 percent less compared to the preceding month.

The country's point-to-point inflation in the mentioned month was 7.3 percent, 1.1 percent less compared to the previous month, the Statistics Center of Iran said March 22.

Point-to-point inflation is a term frequently used by the Iranian government, denoting the inflation usually over one month.

The Statistics Center of Iran also said that setting the Iranian fiscal year 1395 (March 21, 2016 to March 20, 2017) as the main one, that is 1395=100, the consumer price index (CPI) in Iran’s urban areas stood at 111.4 units in the 12th month of the last fiscal year, which is 0.2 percent more than in the preceding month.

The figure shows an annual growth of 7.3 percent.

The index for foods, drinks and tobacco stood at 115.9, showing a rise by 0.1 percent compared to the preceding month and a growth rate of 12.3 percent when compared to the same time last year.

The index for clothes, health care, and electricity and fuel respectively stood at 109.5, 110.4 and 97.6, which indicates an annual growth of 6.1 percent for clothes, 9.9 percent for electricity and fuel and 7.2 percent for healthcare.

After food and drinks, the education sector registered the highest annual growth among the index subgroups.

The index for education was 118.4, 11 percent more year-on-year. Meanwhile the index for telecommunication sector registered a yearly growth of 3 percent(the lowest increase) and stood at 104.8.

The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Iranian President Hassan Rouhani came to power, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.