According to Khabar Online, the latest published statistics from the producer price index of the industrial sector show that the inflationary pressure on producers continues with high intensity. According to the report of the Iranian Statistics Center, this summer, although the rate of seasonal increase in prices has decreased compared to spring, the comparison of prices with the summer of last year indicates a significant jump in production costs.
The 147.3% increase in point-to-point inflation and the annual inflation reaching 97.3% presents a picture of the continued increase in production costs in Iran’s economy; A situation that can continue to affect the finished price of industrial goods and the consumer market.
The latest report of the Iranian Statistics Center on the producer price index of the industrial sector in the summer of 1405 shows that point-to-point inflation in this sector has reached 147.3% with an increase of 38.3 percentage points compared to the previous season. Also, the annual inflation of industrial producers has recorded a figure of 97.3% with a growth of 26.4 percentage points; Statistics that indicate the continuation of heavy cost pressure on the production sector.
According to this report, the producer price index of the industrial sector reached 774.7 in the summer of 1405. This index has increased by 28% compared to the previous season, 147.3% compared to the same season last year, and 97.3% in the four seasons ending this summer compared to the same period last year.
Seasonal inflation reduction along with the continued increase in prices
Examining the seasonal changes of the producer price index shows that the inflation of this sector has reached 28% this summer, which has decreased by 8.2 percentage points compared to the figure of 36.2% in the spring season.
In other words, the average price received by manufacturers of industrial products for the production of their goods inside the country has increased by 28% this summer compared to spring.
Despite seasonal inflation reduction, the survey of industrial groups shows that some sectors still faced a sharp increase in prices. In this summer, the highest seasonal inflation with 80.2% was assigned to the group “Manufacture of coke and oil refining products”. On the other hand, the “Manufacturing of all kinds of beverages” group has experienced the lowest price increase among industrial groups with seasonal inflation of 10.8%.
A jump of 38 percentage points in point-to-point industry inflation
In another part of the report of the Iranian Statistics Center, the point-to-point inflation of industrial producers in the summer of 1405 has reached 147.3%. This figure shows an increase of 38.3 percentage points compared to the 109% inflation of the spring season.
Based on this, the average price received by producers of industrial products this summer has increased by 147.3% compared to the same season last year.
Examining the details of the industrial groups also shows that the highest point-to-point inflation with 216.8 percent was related to the “tobacco and tobacco products manufacturing” group. On the other hand, the “Manufacturing of other non-metallic mineral products” group recorded the lowest price increase with point-to-point inflation of 84%.
The annual producer inflation reached 100%
The statistics related to the annual inflation of the industrial sector producer also indicate a significant increase in price pressures. According to this report, the annual inflation of this sector has reached 97.3 percent this summer, which has increased by 26.4 percentage points compared to the 70.9 percent figure of the previous season.
This index shows that the average price received by producers of industrial products has increased by 97.3% in the four seasons ending in the summer of 1405 compared to the same period of the previous year.
Among industrial groups, tobacco products have experienced the highest price increase with annual inflation of 126%. On the other hand, the manufacturing group of other non-metallic mineral products is at the lowest level of price increase with annual inflation of 63.8%.
The sum of these statistics shows that although the speed of the seasonal price increase in the industrial sector has slowed down, the general trend of producer inflation is still upward. The significant increase in point-by-point and annual inflation shows that the reduction of seasonal inflation does not mean the easing of price pressures on producers, and the cost of production in the industrial sector continues to increase at a high pace.
These figures were obtained while at the end of September, the statistical center calculated monthly inflation at 4.2%, and the point-by-point and annual inflation rates were 89.8% and 73.6%, respectively. With this credit, it can be said that industrial producer inflation is far more than consumer inflation, and this indicates an increase in consumer inflation, especially in the sector of goods related to industrial production.
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