Monthly bread, grain prices rise over 50% yr/yr

October 25, 2020 - 13:57

TEHRAN – The prices of bread and various grains in Iran increased by 50.6 percent in the seventh month of the current Iranian calendar year (September 22-October 21) compared to the same month in the previous year, according to the Statistical Center of Iran (SCI).

Based on the SCI data for the mentioned month, the inflation rate for bread and various grains like beans, barley, and wheat, stood at 52.6 which was the highest inflation rate among the food and beverage category.

Last week, SCI had announced that the inflation rate in the twelve-month period ended on October 21, which marks the end of the seventh Iranian calendar month of Mehr, stood at 27.2 percent.

The inflation rate has risen 1.2 percent in the mentioned time span from the twelve-month period ended on the last day of the sixth month.

The SCI put the inflation rate at 41.3 percent in the urban areas and at 42.2 percent in the rural regions during the mentioned time span, and announced that the figure shows a 6.8-percent rise in the urban areas and an 8.1-percent growth in the rural regions.

Central Bank of Iran (CBI) in a statement in April announced that the annual inflation rate for the current Iranian calendar year (ends on March 20, 2021) is set to be 22 percent.

The statement published on the website of the CBI read, “Given the adopted policies and taken measures and also taking the country’s macro-economic factors into account, the CBI believes that based on the realistic scenarios, the inflation rate in the current year will continue its downward trend.”

Last year, CBI Governor Abdolnaser Hemmati had said, “Our goal is curbing inflation rate and no estimation shows an inflation rate of over 20 percent for the next year”.

EF/MA

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