Iran's Inflation Rates for the Month of Bahman 1394 (February 2016)
Feb., 2016
Vistar Business Monitor
The Central Bank of Iran announced that the average inflation rate in the urban area for the 12-month period to the eleventh Iranian calendar month of Bahman (ended on Feb. 20) hit 12.6 percent. The month-over-month (M-o-M) inflation rate increased by 0.2%.
The country’s year-over-year inflation in the mentioned month was 8.9 percent, 0.7 percent less than the previous month, the CBI said Feb. 24.
The year-over-year inflation rate statistics identify the rate between distinct points in time, such as the inflation rate at the end of a month compared to the rate of inflation at the end of the same month in the previous year.
The Central Bank also said that setting the Iranian fiscal year 1390 (March 21, 2011 to March 20, 2012) as the main one, that is 1390=100, the consumer price index (CPI) in Iran ‘s urban areas stood at 233.1 units in the eleventh month of the current fiscal year, which is 0.2 percent more than its preceding month.
This is the third month in a row that Y-o-Y inflation has been below 10%. On a monthly basis, the highest growth in inflation occurred in the Cultural Expenses & Leisure category, at 1%. Communication and Tobacco are the only categories with negative adjustments, both dropping by 0.1%. Similar to last month’s inflation report, Education and Health Care costs had the highest growth Y-o-Y. They have recorded 21.3% and 18.1% inflation respectively. Tobacco has recorded a negative Y-o-Y change of negative 1.1%.
The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Iranian president Hassan Rouhani came to power, the inflation rate and Y-o-Y inflation rate were 37.5 percent and 44 percent, respectively.
The Producer Price Index in the 12-month period ending February 19, which marks the end of the Iranian month of Bahman, increased 5.5% compared with last year’s corresponding period, according to the latest report of the Central Bank of Iran. The index registered a year-over-year increase of 3.4% compared with the similar month of last year. PPI (using 2011 as the base year) stood at 214.6 in Bahman, indicating a 0.2% decline compared with the previous month, CBI reported.