EghtesadOnline: The average Producer Price Index in the year ending March 20, 2018, increased by 12.9% compared with the same period of last year, the Statistical Center of Iran reported.
The overall PPI (using 2011 as the base year) stood at 251.7 for the period under review, indicating a 17.3% increase compared to the year before.
The SCI report came after the Central Bank of Iran put last Iranian year’s PPI inflation at 10.5%.
Producer Price Index monitors the price fluctuations of goods and services for the producer whereas Consumer Price Index measures changes in the price level of a basket of consumer goods and services purchased by households. 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, according to Financial Tribune.
According to SCI, the average goods and services Consumer Price Index increased by 8.2% last year compared to the year before. CBI put last year’s CPI inflation at 9.6% for urban areas.