Iran’s inflation rate increases
Baku, Azerbaijan, May 22
The inflation rate in Iran’s urban areas for a 12-month period ending in the second Iranian calendar month (ended on May 21) stood at 8.1 percent, 0.1 percent more compared to the preceding month.
The country's point-to-point inflation in the mentioned month was 8.6 percent, 1.3 percent more compared to the previous month, the Statistics Center of Iran said May 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 114.1 units in the 2nd month of the current fiscal year, which is 1.1 percent more than in the preceding month.
The figure shows an annual growth of 8.6 percent.
The index for foods and drinks stood at 119.6, showing a rise by 0.8 percent compared to the preceding month and a growth rate of 8.4 percent when compared to the same time last year.
The index for clothes, health care, and electricity and fuel respectively stood at 111.7, 112 and 112, which indicates an annual growth of 7.3 percent for clothes, 8.8 percent for electricity and fuel and 7.7 percent for healthcare.
Tobacco registered the highest annual growth among the index subgroups (21.8), followed by education (12.6 percent).
The index for education was 118.7, meanwhile it was 126.4 for tobacco.
The index for telecommunication sector registered a yearly growth of 5.2 percent (the lowest increase) and stood at 107.
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.