Qom province records lowest inflation rate

November 29, 2021 - 11:12

TEHRAN – A review of the latest statistical data released by the Statistical Center of Iran (SCI) shows that Qom province with 40 percent recorded the lowest inflation rate in the twelve-month period ended on November 21, which marks the end of the eighth Iranian calendar month Aban.

The highest 12-month inflation rate is related to Ilam province with 52.2 percent, according to the SCI’s statistics.

The SCI has put the average inflation rate in the twelve-month period ended on November 21 at 44.4 percent, falling one percent from the figure for the twelve-month ended to the seventh month.

SCI has put the country’s point-to-point inflation rate at 35.7 percent in the eighth month of this year, which means families have paid an average of 35.7 percent more for purchasing the same package of commodities and services in that month, compared to the same month in the previous year.

The point-to-point inflation rate has also dropped by 3.5 percent in comparison to the figure for the preceding month.

The point-to-point inflation rate for urban households was reported to be 35.3 percent, which is 3.1 percent less than the figure for the previous month. The figure was 37.4 percent for the rural households, with 6.5 percent drop from the figure for the previous month.

The Statistical Center of Iran had put the inflation rate in the twelve-month period ended on March 20 (the end of the previous Iranian calendar year) at 36.4 percent, rising 2.2 percent from the figure for the twelve-month period ended on the last day of the preceding year.

Last week, the head of Iran’s Planning and Budget Organization (PBO) said considering the recent data provided by the Statistical Center of Iran the inflation is expected to be curbed in the next Iranian calendar year (begins in March 2022).

“No money creation has taken place in the last three months, and a recent report by the Statistics Center of Iran shows that inflation is declining, these are indications that the inflation could be curbed by the next year,” Masoud Mir-Kazemi stated.

Referring to the current economic problems, the PBO head stated: "The problem of people today is livelihood, business situation, household income, and inflation, and solving problems in these areas is one of the tasks of the Planning and Budget Organization. Over the three-month, since the 13th government took office, PBO’s priority has been economic stability to restore confidence in the economy.”

MA/MA

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