Central Bank of Iran: PPI Inflation at 12%
EghtesadOnline: The average Producer Price Index in the 12 months ending June 21, which marks the end of the Iranian month of Khordad, increased by 12% compared with last year’s corresponding period, the latest report by the Central Bank of Iran announced.
CBI put the preceding month’s PPI inflation at 11.3%. PPI (using Iranian year to March 2012) stood at 277.3 in Khordad, indicating a 2.2% rise compared with the previous month.
A year-on-year increase of 16.9% was registered in the index compared with the similar month of last year.
Producer Price Index gauges 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, according to Financial Tribune.
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 CBI, the average goods and services Consumer Price Index for urban areas in the 12 months ending June 21 increased by 9.4% compared with last year’s corresponding period.
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