Iran Q1 producer inflation at 60.4%

The producer price index in the four-quarter period ending June 21, which marks the end of the first quarter of the current Iranian year, grew by 60.4% compared with the corresponding period of last year.

12 September 2021
ID : 33065
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The producer price index in the four-quarter period ending June 21, which marks the end of the first quarter of the current Iranian year, grew by 60.4% compared with the corresponding period of last year.

Workers are seen in an Iranian tyre factory

The producer price index in the four-quarter period ending June 21, which marks the end of the first quarter of the current Iranian year, grew by 60.4% compared with the corresponding period of last year. 

The index calculated for the four-quarter period leading to March 20, marking the end of Q4 of last year, had increased by 46.7%.

The lowest and highest annualized producer inflation was registered for services and mining sectors with 42% and 112.3%, respectively. 

PPI (using fiscal 2016-17 as the base year) stood at 419.4 in Q1 (March 21-June 21), indicating a 10.1% increase compared with the previous quarter and a 73% growth over the same quarter of last year, the Statistical Center of Iran reported.

The lowest and highest quarter-on-quarter producer inflation was registered for production, transmission and distribution of electricity with 1.3% and mining with 38.7%, respectively.

Compared with the same quarter of last year, production, transmission and distribution of electricity posted the lowest PPI of 32.1% and mining registered the highest PPI of 154.1% in the first quarter of the current year.

PPI represents the average movement in selling prices from domestic production over time. It measures price movements from the seller's point of view. 

Conversely, the consumer price index measures cost changes from the viewpoint of the consumer. In other words, this index tracks change to the cost of production.

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