October 14, 2022
The rate of inflation in the last Persian month fell significantly to 49.7 percent, compared to the same month last year. That was a drop of 2.5 percentage points in one month and put the rate below 50 percent for the first time in four months. But as the red lines show, the rate has been higher in only six months in the last 15 years, so the back of inflation has certainly not been broken yet. Still, the rate has fallen two months in a row. By the other measure used by the Statistical Center of Iran the average rate of the last 12 months, shown in black inflation was still rising last month, Shahrivar, ending September 22, going up 0.6 percentage points to 42.1 percent.
But the point-to-point measure shown in red is generally considered more important and, as the chart shows, usually points in the direction the rate will take in future months. Food prices continued soaring, however. Accounting for one-quarter of the average outlays of a family, food prices last month rose 76.1 percent compared to the same month last year. The back-breaking cost of food today is widely considered a major factor in the anger driving the ongoing disorders across Iran. At least seven wage-earners have set themselves on fire in recent months because of economic hardship, according to a count by Iran International.
