Inflation on the Rise; Isfahan Records Highest Inflation, Service Inflation Exceeds 40 Percent

The latest report from the Statistical Center of Iran indicates that inflation in Iran has increased, with an increase of more than 2 percent in October. Accordingly, it has been announced that service inflation has returned to over 40 percent in the summer of this year, and the point-to-point inflation for October has risen again to over 30 percent, reaching 31.6 percent. Data from the Statistical Center of Iran shows that in October, Isfahan province had the highest annual inflation rate at 36.9 percent. A review of the statistics published by the Statistical Center of Iran indicates that in the housing and energy carriers sector, inflation has reached over 40.3 percent. Additionally, inflation for goods and services in October was 37.1 percent, education inflation was 34.5 percent, food inflation was 26 percent, and healthcare inflation was 27 percent. This report shows that monthly housing inflation in October was 3.3 percent, with a point-to-point inflation of 40.9 percent. Furthermore, the annual housing inflation in October reached 41.8 percent, while this figure was 41.7 percent in September, indicating an increase in annual housing inflation in October. The upward trend in inflation comes as the government has recently submitted next year's budget to the parliament, and according to Rahim Zare, spokesman for the Joint Commission, "the government has predicted an inflation rate of 28.3 percent in this bill, which indicates a decrease in the inflation rate in the budget bill compared to last year." Meanwhile, the International Monetary Fund recently announced in its latest forecast that Iran's inflation this year will reach 31.7 percent, and reports indicate that a decreasing outlook for inflation is not anticipated. Experts have also indicated that the published budget figures suggest an intensification of the upward inflation trend next year. The Research Center of the Parliament: One-third of Iranians cannot meet their needs. The Deputy Minister of Labor says it is too early to discuss next year's wages for workers. The shadow of war and recession looms over Iran's economy; gold and currency prices have hit record highs. The government seeks a 20 percent increase in wages; one labor group states: there is no other meaning than making the poor poorer. Despite a 75 percent increase in bread prices, some bakers sell more expensive bread by decorating various types of bread. The cost of living for households in Iran has increased to about 37 million tomans per month.