The Statistical Center of Iran reported that the annual inflation rate for the 12 months ending in Bahman is 23.5%. According to this report, published on Thursday, March 2, on the official website of the Statistical Center, the point-to-point inflation rate (Bahman this year compared to Bahman last year) is also assessed at 42.3%. The report indicates that the increase in the consumer price index (inflation) in the category of 'food, beverages, and tobacco' is much higher than other goods and services. The annual inflation rate for food, beverages, and tobacco is approximately 32.5%, while the point-to-point inflation rate for these goods is around 64.3%. Among these goods, the price of various meats (sheep, cattle, chicken, and fish) shows an increase of more than 92% in Bahman compared to the same month last year. The price of tobacco has also risen by more than 136% (almost 2.36 times). Inflation for goods and services in the categories of fruits and nuts, vegetables, furniture, recreation, and culture has ranged from 67% to 82%. Additionally, the inflation rate for non-food, beverage, and tobacco goods in Bahman compared to Bahman last year has increased by 33.5%. Thus, the increase in the prices of food, beverages, and tobacco is significantly higher than that of other goods and services. Following the U.S. withdrawal from the JCPOA in May and the surge in the dollar price, inflation has spiraled out of control. The International Monetary Fund estimated Iran's inflation in 2018 at over 29% and predicts a 35% inflation rate for the current year. However, these figures do not pertain to point-to-point inflation and include the increase in price indices over a 12-month period. According to IMF statistics, the inflation rate in Iran has almost always been above 10% over the past forty years, but has surged significantly in some years. Another important point in the Statistical Center's report is the comparison of urban and rural inflation rates. The Statistical Center states that the point-to-point urban inflation this year is 41.5% and rural inflation is 46.7%. Thus, the increase in prices in rural areas has been greater than in urban areas.
Inflation Rate in Iran Reached 23.5% in Bahman
Iran's inflation rate for the year ending in Bahman reached 23.5%, with point-to-point inflation at 42.3%. The rise in prices, especially for food and tobacco, has been significantly higher than other goods, exacerbated by the U.S. withdrawal from the JCPOA and the surge in the dollar price. This economic situation highlights the ongoing challenges facing Iranian consumers and the broader economy.
👥 Key Players
📰 What Happened
Iran's annual inflation rate reached 23.5% for the year ending in Bahman, with point-to-point inflation at 42.3%. The rise in prices, particularly for food and tobacco, has been notably severe, reflecting ongoing economic challenges.
- Food, beverages, and tobacco inflation is approximately 32.5%, with point-to-point inflation at 64.3%.
- Rural inflation is higher than urban inflation, at 46.7% compared to 41.5%.
💡 Why It Matters
📚 Background
Iran has faced persistent inflation for decades, exacerbated by sanctions and economic mismanagement. The withdrawal from the JCPOA has intensified these economic pressures.
🏷️ Entities Mentioned
Translated from the original and edited for English readers. View original source →
Translation confidence: 85%