BAKU, Azerbaijan, November 23. Iran's point-to-point inflation rose by 32.5 percent for the eighth month of the current Iranian year (from October 22 through November 2024) compared to the same month of last year (October 23 through November 21, 2023).
The data obtained by Trend from the country's Statistical Center shows that families in Iran spent an average of 32.5 percent more on a range of products and services for the eighth month.
The point-to-point inflation rate is the measurement of the increase in the price of goods and services over a given period or the percentage change in the price index compared to the same period of the previous year.
The information says that the price index for the eighth month amounted to 279.5.
According to the report, the point-to-point inflation for the eighth month amounted to 29.2 percent in the food, beverages, and tobacco group and 34.2 percent in the non-food goods and services sector.
The report shows that the point-to-point inflation for the eighth month stood at 32.8 percent in urban areas and 30.9 percent in rural areas.
The report indicates that for the eighth month, the country's monthly inflation rose by 1 percent year-on-year to 2.8 percent compared to the seventh month of this year (from September 22 through October 21, 2024).
Monthly inflation is the percentage change in the number of price indexes compared to the previous month.
The monthly inflation for the eighth month amounted to 2.8 percent in urban areas and three percent in villages.
Moreover, the report notes that for the eighth month (from November 22, 2023 through November 20, 2024), inflation decreased by 0.5 percent compared to the previous period (November 22, 2022 through November 21, 2023) to 33.1 percent.
Annual inflation denotes the average percentage change in price index indicators over the last year.
Based on the report, following the results of the eighth month, the annual inflation rate stood at 33.5 percent in Iranian cities and 30.6 percent in rural areas.