Central Bank: Iran PPI Inflation at 10.5%
The average Producer Price Index in the 12 months ending March 20, which marks the end of the Iranian month of Bahman and the last Iranian year, increased by 10.5% compared with last year’s corresponding period, the latest report of the Central Bank of Iran showed.
CBI put the preceding month’s PPI inflation at 10.2%.
A year-on-year increase of 12.8% was registered in the index compared with the similar month of last year. PPI (using Iranian year to March 2012) stood at 265.5 in Esfand to March 20, indicating a 1.5% rise compared with the previous month.
The importance of PPI lies in its predictive content for the future pattern of Consumer Price Index. Changes in PPI are usually reflected in Consumer Price Index within a short period of time. PPI gauges the price fluctuations of goods and services for the producer whereas CPI measures changes in the price level of a basket of consumer goods and services purchased by households.
According to CBI, the average goods and services Consumer Price Index for urban areas increased by 9.6% last year compared with the year before.
The overall CPI (using the Iranian year to March 2017 as the base year) stood at 114.7 in Esfand, indicating a 1.1% increase compared with the previous month. The index registered a year-on-year increase of 8.3% compared with the similar month of last year.
source: Financial Tribune
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