Tehran - BORNA - The Iranian government’s official statistics agency said on Wednesday that the consumer price index in the country had reached 370.5 in the year to August 22, an increase of 36.3% from the year before.
SCI figures showed that consumer prices in Iran had increased by 2.9% on a month-on-month basis in August.
The figures showed that prices of food, beverages, and smoking products in Iran had increased by 3.9% over August, while inflation of non-food products and services had risen by 2.3% over the same period.
The CPI measured on a point-to-point scale, which compares inflation in two same months in back-to-back years, was 42.4% in the calendar month to late August, up 1.2% from the same rate reported in July, the data showed.
Iran has managed to keep its headline inflation rate below 40% for several months, a sign that it has emerged from an economic crisis that erupted after the spread of the COVID-19 pandemic in 2020 and just when the country was fighting the impacts of US sanctions on its oil exports.
Iran’s inflation rate peaked at 49.1% in May 2023, just shy of an all-time record reported some three decades ago.
However, consumer prices have increased in Iran since the start of the current calendar year in late March, while a brief war of aggression fought with the Israeli regime in June further destabilized the prices.
That means that Iran would report higher rates of inflation in the months to come.