Iran’s Point-to-Point Inflation Announced at 21% in Ordibehesht

The Statistical Center of Iran says the point-to-point inflation rate in Ordibehesht increased by 1.2 percent compared to Farvardin, reaching 21 percent.

Point-to-point inflation means the rate of price increase for goods in one month compared to the same period last year.

The rate of price increases in Ordibehesht compared to Farvardin (monthly inflation) also rose by 2.5 percent.

This report says that despite increases in point-to-point and monthly inflation, annual inflation has declined.

According to this report released by the Statistical Center of Iran on Thursday, the first of Khordad, the 12-month inflation ending in Ordibehesht decreased by 2.4 percent compared to the similar period last year, reaching 29.8 percent.

The Statistical Center had previously released a report announcing the 12-month inflation ending in Esfand 1398 (March 2020) at 34.8 percent, but at that time the FARS news agency published the text of a letter from Abdolnasser Hemmati, head of the Central Bank, to Ebrahim Raisi, head of the judiciary, in which a table from the Central Bank’s estimates of past years’ inflation was published, and inflation for last year’s Esfand was stated at 41.2 percent.

Iranian officials have yet to explain the significant discrepancy between the Central Bank and Statistical Center figures.

Iran’s official statistics have always been subject to doubt among expert circles, and estimates by various institutions typically contradict one another.

The International Monetary Fund assessed Iran’s 2019 inflation at 41.1 percent, which is closer to the Central Bank’s assessment.

In any case, the Statistical Center in its new report says annual inflation for food items in the 12 months ending in Ordibehesht was 31.6 percent and inflation for non-food items was 29.2 percent.

Also, urban inflation was reported at 29 percent and rural inflation at 30.8 percent, meaning price increases in rural areas were higher than in cities.

In the data of this state institution, some food items such as fish, sugar and confectionery, tea, coffee, fruit juice and soft drinks show price increases above 40 percent.

The transportation sector also shows inflation of 45.7 percent, which could be due to the significant increase in gasoline prices last year’s Aban.

Since last year’s Shahrivar, the Statistical Center has been reporting annual inflation figures on a declining basis each month.

Source: Radio Farda