Food inflation increased by 85% in April 2019 compared to last year

ArminApril 22, 2019

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In its latest report, the Statistical Center of Iran estimated the monthly inflation rate (the percentage change in the total consumer index compared to the same month last year) at 51.4 percent.

According to this report, which was published on the official website of the Statistics Center on May 1, the twelve-month inflation rate ending in Farvardin 1398 (annual inflation) has also reached 30.6 percent.

The International Monetary Fund assessed Iran's inflation in 2018 (from January 1, 2017 to January 1, 2018) at 31.2 percent and predicted this year's inflation rate to be 37.2 percent.

Thus, the International Monetary Fund's assessment of Iran's inflation rate is higher than the Statistical Center's assessment.

In any case, the Statistics Center says that the increase in the price of consumer goods (inflation rate) has been much higher than that of non-consumer goods and services.

According to the Statistics Center's estimates, inflation for food, beverages, and tobacco products in Farvardin was about 85.3 percent compared to Farvardin 2018, but inflation for non-food products was only 37.8 percent.

This is also true for the annual inflation rate; the annual inflation rate for food, beverages, and tobacco products was about 44.9 percent, and the annual inflation rate for non-food products was about 24.9 percent.

Meanwhile, the monthly inflation rate in cities and villages was not the same, with urban inflation being around 50 percent and rural inflation being around 59.4 percent.

In other words, the increase in the price of goods, property, and services in rural areas has been higher than in cities.

Some urban inflation indicators:

After the US withdrew from the JCPOA in May of last year, the inflation rate accelerated sharply along with the depreciation of the rial. The value of the Iranian rial has fallen by about 70 percent since the beginning of last year.

The annual inflation rate since the beginning of last year is as follows (percentage):