Inflation Rate in June Reached 14.2 Percent

On Wednesday, the Statistical Center of Iran announced that the average inflation rate for urban households in June 2015 was 14.2 percent, indicating a decrease of 0.1 percent compared to the previous month. According to this report, the point-to-point inflation rate in June this year compared to June last year also reached 14.2 percent, showing an increase of 0.5 percent compared to the point-to-point inflation rate of May. The Statistical Center of Iran had previously reported the point-to-point inflation rate for urban households in May this year at 13.7 percent compared to May last year. The monthly inflation rate for June this year was reported at 1.2 percent, which was 0.5 percent in May. A detailed examination of the Statistical Center of Iran's report on the inflation rate for urban households in June shows that changes in the inflation rate during the reported month were mainly influenced by changes in the index of the major group 'Food, Beverages, and Tobacco.' According to the Statistical Center of Iran, the price index of this group increased by 15.6 percent compared to the same month last year. The 12-month inflation rate ending in June this year for the price index of the major group 'Food, Beverages, and Tobacco' reached 10.3 percent, which was less than 10 percent (9.6 percent) in May. The increase in the index of the major group of non-food goods and services in June this year compared to June last year experienced a growth of 13.6 percent. The average inflation rate for this group in the year ending in June this year compared to the same period last year was reported at 16 percent, which showed a decrease of 0.4 percent compared to the 12-month inflation rate ending in May. The highest point-to-point inflation rate in June 2015 among the price indices of subgroups of goods and services belonged to the subgroup of fruits and dried fruits, which experienced a point-to-point inflation rate of 52.3 percent. The lowest point-to-point inflation rate in the reported month among the subgroups of goods and services belonged to the price index of red meat and poultry, which experienced a growth of 2 percent compared to the same month last year. The highest importance coefficient among the examined subgroups of inflation rate belonged to the price index of the housing subgroup, which alone accounted for 30.5 percent in the calculation and changes of the inflation rate. The point-to-point inflation rate of this subgroup in June 2015 reached 13 percent compared to the same month last year.