Transportation, main booster of monthly household spending: SCI

July 26, 2020 - 14:7

TEHRAN - The data released by the Statistical Center of Iran (SCI) show that transportation had the biggest increase in the expenditure basket of Iranian households in the previous Iranian calendar month of Tir (June 21-July 21) compared to the same month last year.

According to the SCI data, the average monthly net expenditure of Iranian urban households in the mentioned month increased by 27 percent year-on-year, ISNA reported.

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

Although the data indicate 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 statistics, 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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