Iran inflation rate reaches 69.9 percent in August

The Statistical Centre of Iran has reported that the annual consumer inflation rate for the 12-month period ending in August reached 69.9 percent. The consumer price index for households rose to 700.1, representing a 3.4 percent increase from the previous month and an 89 percent increase compared to the same month last year.

Year-on-year inflation for households was recorded at 89 percent. Within specific sectors, the inflation rate for food, beverages, and tobacco reached 127.5 percent. The monthly inflation rate stood at 3.4 percent, with food, beverages, and tobacco seeing a 3.6 percent monthly increase, while non-food goods and services rose by 3.3 percent.

Inflationary gaps between different income deciles have also widened. The annual inflation rate varied from 67.6 percent for the tenth decile to 78.3 percent for the second decile, resulting in an inflationary gap of 10.7 units, up from 9.6 units in the previous month.