Increasing trend of inflation rate in Iran accelerates

Business Materials 25 August 2018 14:36 (UTC +04:00)

Baku, Azerbaijan, August 25


The inflation rate in Iran’s urban areas for a 12-month period ending in the fifth Iranian calendar month (ended on Aug. 22) stood at 9.8 percent, 1 percent more compared to the preceding month.

The point-to-point inflation for the country's urban areas in the mentioned month was 19.4 percent, 5.4 percent more compared to the previous month, the Statistics Center of Iran said.

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 127.6 units in the 5th month of the current fiscal year, which is 5.1 percent more than in the preceding month.

The figure shows an annual growth of 19.4 percent.

The index for foods and drinks stood at 139.1, showing a rise by 8.8 percent compared to the preceding month and a growth rate of 25.1 percent when compared to the same time last year.

The index for clothes, health care, and housing, electricity and fuel respectively stood at 123.8, 122.3 and 122.1, which indicates an annual growth of 17.5 percent for clothes, 15.2 percent for housing, electricity and fuel and 16 percent for healthcare.

Tobacco registered the highest annual growth among the index subgroups (98.7).

The index for telecommunication sector registered a yearly growth of 13.2 percent (the lowest increase) and stood at 116.1.

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.