The Declining Trend of Inflation Rate in Bahman Month is Maintained

The Central Bank and the Statistical Center of Iran confirmed in separate reports that the average inflation rate for Bahman month this year has continued its declining trend. According to the Central Bank of Iran, the point-to-point inflation rate for Bahman 94 reached 8.9 percent, which is 0.7 percent lower than the point-to-point inflation rate for Dey month this year. The annual average inflation for this month was reported at 12.6 percent, experiencing a decrease of 0.6 percentage points compared to the average inflation rate of Dey month (13.2 percent). According to this report, the price index of the main group 'Education' leads among all main groups with a point-to-point inflation rate of 21.3 percent, followed by the main group 'Health and Medical' with a point-to-point inflation rate of 18.1 percent. Previously, the Statistical Center of Iran also reported the average inflation rate for urban areas in Iran for Bahman month this year as 11.8 percent, which was a decrease of 0.4 percentage points compared to the average inflation in the previous report for Dey month. The point-to-point inflation rate for Bahman month was also reported at 8.9 percent, which is 0.6 percentage points lower than the inflation rate for Dey month. The monthly inflation rate for Bahman month 94 showed a decrease of 0.4 percent. The price index of the main group of food and beverages in Bahman month this year saw a growth of 4.6 percent compared to Bahman last year. The monthly inflation rate for this group recorded a negative 0.1 percent. The report from the Statistical Center of Iran on urban inflation for Bahman month this year indicates that the price index of food items increased by 7.7 percent compared to the same month last year, with the 12-month inflation rate for this group recorded at 10.1 percent. According to the results of this report from the Statistical Center of Iran, the index for the main group of food, beverages, and tobacco increased by 7.6 percent in Bahman month this year compared to the same month last year. The percentage change for this group in the 12 months leading to Bahman 94 compared to the same period last year was 9.9 percent, which recorded a slight decrease of about 0.2 percentage points compared to Dey month. An examination of the changes in the selected commodity basket by Radio Farda in Bahman month this year also shows that the average price of this commodity basket decreased by less than one percent (0.67 percent) compared to Dey month. In this one month, the highest price increase among the 10 items in this list was attributed to onions, which saw a price increase of 20 percent, facing unprecedented price hikes in recent days. The most significant price drop from Dey month to Bahman month this year was for tomatoes, which experienced a price decrease of nearly 41 percent. Details of the price changes in the selected commodity basket by Radio Farda from Dey to Bahman month this year can be tracked in Table No. 1. Although the average price of the selected commodity basket by Radio Farda decreased from Dey to Bahman this year, the average price of this basket of items from Bahman last year to Bahman this year increased by approximately 13 percent (12.65). Onions were the leader in price increases during this one-year period, having increased by more than 66 percent from Bahman 93 to Bahman 94. The rise in onion prices during this one-year period was accompanied by a 17 percent decrease in potato prices during the same timeframe, which is the record low among the 10 items in this list. Details of the price changes for the items listed in the selected commodity basket by Radio Farda during the period from Bahman 93 to Bahman 94 can be viewed in Table No. 2. In recent weeks, with the unprecedented rise in onion prices, various reasons have been cited for this increase, one of which is the rise in onion exports to Russia and the reduction in the supply of this product in domestic markets. The presence of brokers and their role have also been cited as other reasons for the recent rise in onion prices. However, Hossein Mohajeran, the head of the Fruit and Vegetable Union, stated in an interview with ISNA that the reason for the rise in onion prices is the losses suffered by farmers last year. According to Mohajeran, farmers planted less onion this year due to the high supply last year, which has led to the increase in prices. The imbalance in the annual cultivation of onions and potatoes has long been a problem for farmers. According to the head of the Fruit and Vegetable Union, with the production from areas like Chabahar and Bandar Abbas entering the market, conditions will improve in about 15 to 20 days, and prices will decrease.