Food inflation remained above 60% in November

A new report from the Statistical Center of Iran shows that food inflation reached 60.1 percent in the 12 months ending in November this year.

Since October of this year, the inflation rate for food items has been reported to be above 60 percent every month.

The Statistics Center, in a report published on Tuesday, November 2, said that the price increase of some food items such as milk, cheese, and eggs reached over 72 percent in November, and that the price of oils and fats also increased by about 92 percent.

Overall, Iran's annual inflation was estimated at 44.1 percent last month.

Of course, these are statistics that are mainly calculated based on the government-approved price of goods, not the actual price of goods in the market.

For example, in November last year, the price of a 20-egg basket was less than 20,000 Tomans, while last month its price in supermarkets and retail stores reached more than 62,000 Tomans, and this figure is much higher than the government-approved figure.

Thus, the actual growth in egg prices in November of this year was more than 200 percent compared to the same month last year, but the Statistics Center reported this figure as 70.9 percent.

The Statistics Center also reported that the growth in housing rental rates in November this year compared to November 2019 was only 25.8 percent, while the latest Central Bank report estimated this figure for October in Tehran to be between 48 and 51 percent.

The Central Bank has not yet published the November report, but field reports published in Iranian media indicate that the rental rate has grown much more than the Statistics Center's report.

Source: Radio Farda