Point-to-point inflation in Farvardin reached 50 percent

Javad Hosseinzadeh, head of the Statistical Center of Iran, announced on Wednesday, the first day of Ordibehesht, that the point-to-point inflation rate in Farvardin of this year reached approximately 50 percent, and food items also experienced a price increase of more than 43 percent.

Iran has one of the highest inflation rates in the world, and only a handful of countries face price increases exceeding those of Iran.

The International Monetary Fund in its latest report on the global economy announced that it is expected that the inflation rate in Iran will reach 39 percent in the current year.

The head of the Statistical Center of Iran said that all three types of inflation—annual, point-to-point, and monthly—increased in Farvardin.

According to Mr. Hosseinzadeh, the monthly inflation in Farvardin reached 2.7 tenths of a percent, point-to-point inflation reached 49.5 percent, and annual inflation reached 38.9 percent.

Based on his statements, the point-to-point inflation rate reaching 49.5 percent “indicates that the average prices have grown compared to the same month of last year.”

The annual inflation rate in Farvardin 1400 also shows a 39.9 percent increase compared to the corresponding period of the previous year.

Mr. Hosseinzadeh also stated regarding the inflation rate of food items that a review of household food baskets containing 164 items of consumer goods shows that the rate of these items has increased by 43.5 percent.

He also stated the growth rate of non-food goods and household services, comprising 311 items of goods and services, as 36.7 percent.

Based on this report, the inflation rate of food items was higher than non-food items, and this figure was 38.6 percent in urban areas and 40.6 percent in rural areas.

The website of the Statistical Center of Iran wrote that in the major group “food, beverages, and tobacco,” the largest price increases compared to the previous month were related to the “vegetables” group, the “red and white meat and their products” group, and the “beverages” group.

In the major group “non-food goods and services,” the “miscellaneous goods and services” group (automobile insurance fees), the “maintenance and repair services of residential units” group, and the “hotels and restaurants” group had the largest price increases compared to the previous month.

The International Monetary Fund, meanwhile, announced that it is expected that the unemployment rate in Iran will reach 11.7 percent in the year 1400, up from 11.2 percent in the year 1399.

Based on reports, the economic pressure in Iran is such that the quality of life and food of the people has changed severely.

Source: Radio Farda