Iran’s headline inflation up 1.8% to 42.2% in December: SCI
Iran has recorded a modest increase in its year-on-year inflation rate during the calendar period ending in late December.
Data released on Saturday by the Statistical Center of Iran (SCI) showed that the consumer price index (CPI) reached 435.1 in the 12 months ending December 21, a 42.2% rise compared with the same period a year earlier.
According to the SCI, this marked an increase of 1.8 percentage points compared with the annual inflation rate reported for the month ending in late November.
The figures also indicated that consumer prices rose by 4.2% on a month-on-month basis in December. Prices for food, beverages, and tobacco products increased by 5.5%, while the cost of non-food goods and services climbed by 3.4% over the same period.
Point-to-point inflation, which measures price changes between the same months in consecutive years, stood at 52.6% in December. This was 3.2 percentage points higher than the corresponding rate recorded in November, according to SCI data.
Iran has experienced persistently high, though relatively managed, inflation since 2020, when the impact of US sanctions coincided with the global outbreak of the coronavirus pandemic.
The country had managed to keep annual inflation below the 40% level for more than a year through November, down from the peaks observed in 2023 and early 2024, suggesting it had moved beyond the most severe phase of economic strain caused by sanctions and disruptions in global supply and demand chains.
Iran’s annual inflation rate reached a high of 49.1% in May 2023, nearing a record level last seen roughly three decades ago.
The sustained rise in annual inflation in recent months, along with the sharp increases in monthly and point-to-point CPI figures, has occurred amid government efforts to liberalize imports and reduce the volume of subsidized foreign currency allocated to certain food imports.
Price volatility has also persisted since June, when Iran fought a brief war of aggression with the Israeli regime.
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Iran’s headline inflation up 1.8% to 42.2% in December: SCI
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