Central Bank of Iran: PPI Inflation at 5%

Financial Tribune- The average Producer Price Index in the 12 months ending March 20, which marks the end of the final month of the last Iranian year (Esfand), increased by 5% compared with last year’s corresponding period, according to the latest report by the Central Bank of Iran.

CBI put the preceding month’s PPI inflation at 4.5%.  A year-on-year increase of 9.1% was registered in the index compared with the similar month of last year. PPI (using Iranian year to March 2012) stood at 235.4 in Esfand, indicating a 0.7% growth compared with the previous month.

The importance of PPI lies in its predictive content for the future pattern of Consumer Price Index. Changes in PPI are usually reflected in CPI within a short period of time.

The central bank’s latest data on CPI show the goods and services CPI for urban areas in the 12 months to March 20 increased 9% compared with last year’s corresponding period.