Inflation Rate for December Announced at 39.6%

The Statistical Center of Iran announced that the inflation rate for December this year compared to the same month last year is 39.6%, marking the highest point-to-point inflation rate since June 2013. According to the Statistical Center of Iran, the point-to-point inflation rate for December has increased by 2.2 percentage points compared to the inflation rate of November. The average inflation rate for the twelve months leading up to December is reported at 20.6%, which shows an increase of 2.6 percentage points compared to the average inflation rate of November, which was 18%. However, in the report from the Statistical Center regarding changes in the consumer price index for December, the monthly inflation rate showed a decreasing trend, with a reported monthly inflation rate of 2% for December, indicating growth in the index from November to December. The Statistical Center had reported the monthly inflation rate for November at 2.6%. This marks the third consecutive month of a decreasing trend in the monthly inflation rate. It seems that the relative stability in the currency market in recent weeks and months, along with a decrease in inflationary expectations from this market, are the main factors contributing to the slight adjustment in the monthly inflation rate, which could strengthen predictions about the continuation of this trend in the next two months until the end of the year. According to reports from the Statistical Center of Iran, monthly inflation rates have returned to below 3% since November. Notably, the report highlights the continued high inflation rates for food, beverages, and tobacco in December. The price index for the 'food, beverages, and tobacco' group in December compared to the same month last year has increased by 57.8%, which is 3.9 percentage points higher than the inflation rate for this group in November. Analyzing the details and components of the food and beverage group shows that the inflation rate for this group is primarily influenced by the increase in the prices of red meat and poultry, which have risen by approximately 74% in December compared to the same month last year. The Statistical Center reported a growth rate of 32.4% for the price index of 'non-food goods and services' in December. The highest growth rate among the groups and categories analyzed for determining the inflation rate in December was attributed to the tobacco group, which experienced a 137.9% increase compared to December of last year. Following the tobacco group, the 'furniture and household goods' category ranked second with a growth rate of 72.1%. The 'recreation and culture' group also faced a 67% increase in December, making it the third highest inflation rate after the previously mentioned groups. Disputes over the legal authority to announce macroeconomic statistics, including inflation and economic growth rates, between the Statistical Center of Iran and the Central Bank led the Central Bank to refrain from announcing its inflation rate in November, although it has reserved the right to continue producing and publishing these statistics. However, in addition to withholding inflation data, the Central Bank has also stopped publishing statistics related to retail prices of certain food items.