TEHRAN – Iran’s annual inflation rate rose to 44.6 percent in the 12 months ending in late January, the Statistical Center of Iran (SCI) said.

The center reported that the consumer price index for the 10th Iranian calendar month of Dey (ended on January 22) showed annual inflation for Iranian households at 44.6 percent, up 2.4 percentage points from the previous month.

On a monthly basis, consumer prices rose 7.9 percent in the mentioned month compared with the previous month. Prices were up 60 percent year on year, while the 12-month inflation rate climbed 44.6 percent compared with the same period a year earlier.

Point-to-point inflation, which measures price changes compared with the same month last year, stood at 60 percent, meaning households paid on average 60 percent more for a similar basket of goods and services than in Dey last year.

Monthly inflation was driven largely by food, beverages and tobacco, where prices rose 13.7 percent, while non-food goods and services increased 4.4 percent.

The annual inflation rate stood at 43.5 percent for households in the highest income decile and 46.8 percent for those in the second decile, widening the inflation gap between income groups to 3.3 percent in Dey.

EF/MA