Iran’s average goods and services consumer price index (CPI) inflation for the first month of the new Persian year (started March 21) stood at 51.4% y/y, with food, beverage and tobacco prices jumping 85% y/y, the Statistical Centre of Iran (SCI) reported on April 22.
Iran is facing a perfect storm involving a severe currency devaluation amid tightening sanctions levied by the US and stagnating wages. Many Iranians have cut down to essential purchases only but prices have nevertheless continued to jump across the country with rural areas more heavily affected than urban localities, according to the latest data.
The average goods and services CPI inflation for the 12-month period ending April 20 was given as 30.6% y/y by the SCI, which is lower than the International Monetary Fund’s inflation estimate for Iran in 2018.
Iran’s average goods and services CPI inflation in the 2018/2019 Persian year (ended March 20) stood at 26.9%.
A 155.6% increase in vegetable prices and a 117% increase in meat prices y/y were recorded in the first month of the Persian new year.
Some global economists put Iran’s inflation rate a good deal higher than what is portrayed by the country’s official statisticians.
Related Articles
Azerbaijani banks report mixed financial performance in Q1 2025
Azerbaijan’s leading commercial banks released their financial results for the first quarter of 2025, showing a mixed performance in profitability, digitalisation, credit growth and capital ... more
Hungarian subsidiary of Intesa Sanpaolo targets further growth after record 2024
CIB Bank, a subsidiary of Italy's Intesa Sanpaolo, is planning further expansion in 2025 after posting record results last year, CEO Pal Simak said after the release of the annual earnings report. ... ... more
EC clears €200mn capital increase at Romanian state-owned CEC Bank
The European Commission has approved Romania’s planned €200mn capital increase for state-owned CEC Bank, allowing the country to proceed with strengthening the lender’s financial position, ... more
Most Read
-
Serbian biotech Dren Bio sold to Sanofi for $1.9bn
1 month ago
-
Scandal surrounding Hungarian central bank’s investments spreads to Polish developer GTC
30 days ago
-
Trump Ukraine envoy Witkoff dismisses Starmer’s Ukraine ceasefire plan, parrots Kremlin talking points
1 month ago
-
Israeli IDF troops engage in ground battle in Syria as airstrikes hit Palmyra
30 days ago
-
COMMENT: Why Iran remains wary of Trump's negotiation overtures
1 month ago