EghtesadOnline: The Producer Price Index in Iran during the last fiscal year (March 2018-19) grew by 47.5% compared with the year before, the Statistical Center of Iran reported.
The index calculated for the year to Dec. 21, 2018, marking the end of Q3, increased by 34.8%, the report added.
The overall Producer Price Index (using 2011 as the base year) stood at 412.2 in the fourth quarter of the last Iranian year (Dec. 22, 2018-March 20), indicating an 8.8% increase compared with the previous quarter (autumn) and a 66.3% increase over last year's winter.
A Sectoral Review
The industrial sector's average Producer Price Index in the year ending March 20, 2019, grew by 64.6% compared with the same period of the year before, according to Financial Tribune.
The overall PPI of the sector stood at 479.9 in Q4, indicating a 14.1% increase compared with the previous quarter and 89.2% growth over the same quarter of the previous year.
The rise in industrial PPI was mostly driven by the increase in producer inflation of “coal production industries-oil refineries” subsector that reached 538.2, posting a 12.6% rise compared with the quarter before.
The second biggest driver of industrial PPI in Q4 was for “base metals”. It rose 25.2% to reach 464.4 in Q4.
The producer inflation of “motor vehicles, trailers and semi-trailers”, the third chief driver of industrial PPI, grew by 25.2% compared with the previous quarter index to reach 402.7 in Q4.
The average Producer Price Index for the mining sector increased by 50.9% compared with the year before to reach 349.9 (using 2011 as the base year).
Producer inflation of “extraction of copper ores” stood at 197.1, indicating a 91.5% rise YOY–the highest inflation among the mining sector's subgroups.
PPI of “extraction of iron ores” increased 61.9% year-on-year to reach 471.6.
PPI of “ornamental ores extraction” grew 21% YOY to hit 270.5.
Producer inflation of the “extraction of coal” subsector stood at 352.2, indicating a 33.4% rise compared with the year before.
Producer inflation of “extraction of gravel and sand” stood at 321.1, indicating a 24.3% rise YOY.
And, producer price index of the “chromite ore extraction” grew 32.6% compared with the year before to reach 418.
The overall PPI of mining sector (using 2011 as the base year) stood at 405.9 in Q4 (December 22, 2018-March 20), indicating a 6.7% increase compared with the previous quarter and 60.7% growth over the same quarter of the year before.
The “extraction of metal ores” subsector had the biggest impact on the 6.7% rise in producer inflation of mining sector in Q4. It increased by 7.5% compared with the preceding quarter to reach 440 from 409.2.2 of Q3.
The mining sector’s average PPI for the four-quarter period to Dec. 21, the end of Q3, had increased by 41.9% YOY.
For “agronomy, horticulture and traditional husbandry”, PPI increased by 47.8% last year compared to the year before.
The overall PPI of the “agronomy, horticulture and traditional husbandry” stood at 368.5 in Q4, indicating a 60.5% increase YOY.
The overall PPI for the services sector stood at 296.5, indicating a 22.2% rise YOY.
The overall Producer Price Index of the electricity sector stood at 126.24, indicating a YOY growth of 4.74%.
PPI of the electricity sector stood at 114.96 in the fourth quarter of the last fiscal (Dec. 22, 2018-March 20), indicating a 0.19% growth over the same quarter of the year before.
The sector’s PPI for the four-quarter period to December 21 had increased by 0.79%.