SCI: Annual inflation hits 53.7% in first month of year

Iran’s consumer price index (CPI) rose sharply in the first month of the new Iranian year starting March 21, with annual inflation reaching 53.7% and prices continuing their upward trend, data from the Statistical Center of Iran (SCI) showed on Wednesday.
The CPI for Iranian households stood at 569.3, marking a 5.0% increase from the previous month and a 73.5% rise compared with the same month a year earlier, IRNA reported.
Year-on-year inflation reached 73.5%, meaning households paid on average more than 73% higher for a similar basket of goods and services compared with the same period last year.
Monthly inflation was recorded at 5.0%, with prices for food, beverages and tobacco rising by 5.6%, while non-food goods and services increased by 4.5%.
The annual inflation rate, measured over the 12 months to the current month, rose to 53.7%, up 3.1 percentage points from the previous month, indicating continued upward pressure on prices at the start of the year.
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