BAKU, Azerbaijan, October 26. Iran's inter-point inflation rose by 31.6 percent during the seventh month of the current Iranian year (from September 22 through October 21, 2024) compared to the same month of last year (September 23 through October 22, 2023).
According to data obtained by Trend from the Statistical Center's report, Iranian families spent an average of 31.6 percent more on a range of goods and services during the seventh month of the year.
Point-to-point inflation is the percentage change in the number of price indexes compared to the same period last year, and the report indicates that the price index totaled 271.8 for the seventh month.
According to the report, point-to-point inflation for the seventh month amounted to 26 percent in the food, beverages, and tobacco group and 34.6 percent in non-food goods and services.
Moreover, the report noted that point-to-point inflation for the seventh month stood at 32 percent in urban areas and 29.4 percent in rural areas.
The country's monthly inflation rate stood at 2.7 percent in the seventh month, up 1 percent from the period from August 22 through September 21 this year.
Monthly inflation is the percentage change in the price index from the previous month.
The monthly inflation rate from September 22 through October 21 amounted to 2.7 percent in urban areas and 2.6 percent in rural areas.
However, the annual inflation rate from October 23, 2023, to October 21 this year decreased by 0.6 percent from the previous period (October 23, 2022 to October 22, 2023) to 33.6 percent.
The annualized inflation rate is the percentage of the average change in price index measures over the previous year.
"Iran's urban annual inflation rate stood at 34 percent in urban areas and 31.2 percent in rural areas from September 22 through October 21,” the report reads.