Food Prices in Iran Have Increased 'Almost Threefold' Over Three Years

New data from the Statistical Center of Iran shows that from the beginning of the year 1400 (March 2021) to the end of August this year, the rate of food and beverage prices in the country has increased by 194%. Thus, food prices have nearly tripled during the three-year term of the thirteenth government. The data published on the Statistical Center's website also indicates that the 12-month inflation rate ending in August this year compared to the same period last year was 34.8%. During this period, Isfahan, West Azerbaijan, and Kurdistan experienced the highest annual inflation rates, while Sistan and Baluchestan saw the lowest price growth at 25% annual inflation. Additionally, the prices of goods and services in August this year compared to August last year (point-to-point inflation) showed an increase of 31.6%. The highest point-to-point inflation in August was related to Ilam, while the lowest was in Sistan and Baluchestan. Furthermore, annual and point-to-point inflation in urban areas was higher than in rural households this August. Last month, the highest price growth compared to August last year was in public transportation services, which showed a 54% jump, followed by housing and rent inflation, each reported at 43%. Liquidity in Iran has reached nearly 8,000 trillion tomans. The Statistical Center also claims that the price of oils and fats in August this year compared to the same month last year has not only not increased but has decreased by 0.7%. This claim comes despite the fact that oils and fats, after red meat, had the highest price growth among food items since the beginning of the year 1400, with a price increase of 278% since then. Overall, since the beginning of the year 1400, the highest inflation rates were recorded in the winter of 1401 and spring of 1402, a period during which the Statistical Center and the Central Bank halted the publication of monthly inflation reports for several months. However, after the Statistical Center resumed the publication of monthly inflation reports last summer, it became clear that during those months, point-to-point inflation had exceeded 50%.