SCI: Annual inflation rate drops to 33.1%
The annual inflation rate for households in Iran reached 33.1% in the month to November 20, registering a 0.5 percentage point decrease compared to the previous month, according to the Statistical Center of Iran.
In the eighth Iranian month that ended on November 20, the Consumer Price Index (CPI) for households rose to 279.5, showing a 2.8% increase compared to the previous month and a 32.5% rise compared to the related figure for the eighth month of the previous Iranian year (which ended on March 19, 2024).
The CPI for the 12 months that ended on November 20, 2024, also registered a 33.1% increase compared to the 12 months that ended on November 20, 2023.
Point-to-Point Inflation at 32.5%
Point-to-point inflation for households in the eighth Iranian month stood at 32.5%, meaning households spent an average of 32.5% more on a fixed basket of goods and services compared to November 2022. This represents a 0.9 percentage point increase from the previous month.
Point-to-point inflation measures the percentage change in the CPI compared to the same month in the previous year.
Monthly Inflation at 2.8%
The monthly inflation rate for the month to November 20 was 2.8%. Broken down by categories, inflation for “food, beverages, and tobacco” was 3.6%, while for “non-food goods and services,” it was 2.5%.
Monthly inflation reflects the percentage change in the CPI compared to the prior month.
Annual inflation by income
The annual inflation rate for the eighth Iranian month varied across income deciles, ranging from 30.4% for the first decile (lowest income group) to 33.6% for the ninth decile. The inflation gap between deciles narrowed to 3.2 percentage points, down from 3.6 percentage points in the previous month.
The annual inflation rate measures the percentage change in the average CPI over the past year compared to the corresponding period a year earlier.