Average monthly household spending up 27%: SCI

July 24, 2020 - 14:34

TEHRAN – The average monthly net expenditure of Iranian urban households in the previous Iranian calendar month of Tir (ended on July 21) increased by 27 percent compared to the same month last year, ISNA reported.

As reported, the figure also registered a four-percent increase month on month.

According to ISNA, although the data released by the Statistical Center of Iran (SCI) indicates a downward trend for some of the inflation indicators, the net expenditure by the households has not shown any decrease.

In late June, SCI reported that the average annual net expenditure of Iranian urban households in the previous Iranian calendar year 1398 (March 2019-March 2020) increased by 21 percent compared to the preceding year.

Based on the report, the annual cost of Iranian urban households was estimated to be 474.379 million rials (about $11,300), while the average annual income of a household in the mentioned period was estimated at 541 million rials (about $12,800), 24.4 percent more than the previous year (1397).

Accordingly, the average annual income growth of urban households was reported to be higher than the average annual total expenditure growth.

Based on the SCI data, SCI Iran’s inflation rate in the twelve-month period ended on March 19, which marked the end of the previous Iranian calendar year, stood at 34.8 percent.

Back in March, Central Bank of Iran (CBI) Governor Abdolnaser Hemmati said that the inflation rate in Iran is predicted to go down to under 20 percent in the current Iranian calendar year (began on March 20).

EF/MA

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