Food Inflation Remains Above 60% in November

A new report from Iran’s Statistical Center shows that food inflation in the 12 months ending in November this year has reached 60.1%.

Since September of this year, food price inflation has been reported above 60% each month.

In a report released on Tuesday, December 2, the Statistical Center stated that price increases for certain food items such as milk, cheese, and eggs reached above 72% in November, while oils and fats saw price increases of around 92%.

Overall, Iran’s annual inflation in the past month was assessed at 44.1%.

However, these are statistics that are mostly calculated based on government-approved commodity prices, not actual market prices for goods.

For example, last November, the price of a carton of 20 eggs was less than 20,000 tomans, while last month its price in supermarkets and retail stores reached over 62,000 tomans, which is significantly higher than the government-approved figure.

Accordingly, the actual price increase of eggs in November of this year compared to the same month last year exceeded 200%, but the Statistical Center reported this figure as 70.9%.

Also, the Statistical Center reported housing rental price growth in November of this year compared to November of the previous year at only 25.8%, while the latest Central Bank report assessed this figure for September in Tehran between 48 to 51%.

The Central Bank has not yet released the November report, but field reports published in Iranian media indicate that rental rates have grown significantly more than the Statistical Center’s report suggests.

Source: Radio Farda