Inflation rate down 0.5%

May 23, 2022 - 12:20

TEHRAN - The Statistical Center of Iran (SCI) has put the average inflation rate in the twelve-month period ended on May 21, which marks the end of the second Iranian calendar month Ordibehesht, at 38.7 percent, falling 0.5 percent from the figure for the twelve-month ended to the first month.

The center put the country’s point-to-point inflation rate at 39.3 percent in the second month, which means families have paid an average of 39.3 percent more for purchasing the same package of commodities and services in that month, compared to the same month in the preceding year.

The inflation rate was 39.2 percent for the urban households, rising 0.4 percent from the previous month, and 40.1 percent for the rural households, increasing 2.9 percent from the previous month.

The Statistical Center of Iran has put the average inflation rate in the twelve-month period ended on March 20, which marks the end of the past Iranian calendar year 1400, at 40.2 percent.

The center put the country’s point-to-point inflation rate at 34.7 percent in the last month of the past year, which means families have paid an average of 34.7 percent more for purchasing the same package of commodities and services in that month, compared to the same month in the preceding year.

The inflation rate in the twelve-month period ended on March 20 was 39.7 percent for the urban households, and 42.8 percent for the rural households.

The point-to-point inflation rate was reported to be 34.5 percent for the urban households and 35.8 percent for the rural ones, according to the SCI.

The Statistical Center of Iran had put the inflation rate in the twelve-month period ended on March 20, 2021 (the end of the Iranian calendar year 1399) 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.

In late November 2021, the head of Iran’s Budget and Planning and Budget Organization (PBO) had 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 said at the time.

MA/MA

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