BAKU, Azerbaijan, July 23. Iran's point-to-point inflation increased by 31.2 percent in the 4th month of the current Iranian year (from June 21 through July 21, 2024) compared to the same month of last year (from June 22 through July 22, 2023), the statement of Iran's Statistical Center said, Trend reports.
According to the information, families in Iran spent an average of 32.2 percent more on a range of goods and services in the fourth month.
Point-to-point inflation is the percentage change in the number of price indexes compared to the same period last year.
The information noted that the price index totaled 255.2 for the fourth month.
The data indicate that the point-to-point inflation for the 4th month was 26.3 percent in the beverages and tobacco group and 35.4 percent in non-food goods and services.
Furthermore, the report added that point-to-point inflation for the fourth month amounted to 32.8 percent in urban areas and 29 percent in rural areas.
Based on the report, for the 4th month, the country's monthly inflation rate decreased by 0.6 percent year-on-year (from May 21 through June 20, 2024) to 2.2 percent compared to the 3rd month of this year (from May 21 through June 20, 2024).
Monthly inflation is the percentage change in the number of price indexes compared to the previous month.
During the fourth month, monthly inflation stood at 2.2 percent in urban areas and 1.7 percent in villages.
Moreover, the report indicates that inflation decreased by 0.6 percent for the 4th month (from July 22, 2023 through July 21, 2024) compared to the previous period (from July 22, 2022 through July 21, 2023) to 35.5 percent.
The annual inflation rate refers to the average percentage change in price index indicators over the last year.
To note, the report says that at the end of the 4th month, the annual inflation rate amounted to 35.8 percent in Iranian cities and 33.6 percent in rural areas.
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