TEHRAN (Iran News) – Iran Inflation Rate Reaches Highest Level in 26 Years. The Statistical Center of Iran reported in its latest monthly report on Tuesday that inflation in the 12 months ending in June this year has reached 43 percent compared to the same period last year.
This is the highest annual inflation rate in Iran since 1995, when the inflation rate peaked at 49.4 percent.
The Statistical Center of Iran says inflation in food items was much higher than other items and services.
The annual inflation of food and beverage items reached about 52 percent in June.
Among this group of commodities, the highest price growth was related to edible oil, which grew about 70 percent and was in the next category of red meat, fruit and vegetables.
Of course, these figures are related to the annual inflation rate, i.e. price growth in the 12 months ending in June compared to the same period a year ago, but the increase in prices in June itself is much higher than in June (point-to-point inflation) last year.
For example, the increase in the price of edible oils in June of this year was about 113 percent compared to last June, more than twice as much as last year. Also, the price of bread and cereals grew by nearly 51 percent and red meat inflation was about 70 percent.
The inflation rate of all goods and services in the country also reached 47.6 percent in June.
Iran’s inflation last year was 36 percent and will peak at 39 percent this year, according to its assessment by the international body.
In the main group of “foods, beverages and tobacco” the highest price increase compared to the previous month was related to the group “vegetables” (tomatoes, potatoes and eggplant), the group “fruit and dried fruits” and the group “sugar, sugar and sweets” (pasteurized ice cream, candy and sugar).
In the main group of “non-edible goods and services”, “clothing and footwear”, “miscellaneous goods and services” group (18 ct gold and paper towels) and “hotel and restaurant” group (foods served in restaurants) had the highest price increase compared to the previous month.