Iran Economy NewsIran: 90% Increase in Inflation Compared to Autumn 2019

Iran: 90% Increase in Inflation Compared to Autumn 2019

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The Iranian Statistics Center announced a 90 percent increase in inflation compared to the fall of 2019 and that inflation of imported goods in the fall of 2020 was more than 588 percent and the annual inflation rate of these commodities had a 412 percent growth.

Iran Statistics Center’s report

Iran Statistics Center on March 3 in two distinct reports outlined the “price index of export goods in the fall of 2020” and the “import index of imported goods in the fall of 2020”.

According to the Iranian Customs Statistics Center, the inflation rate of imported goods in the fall of this year, compared to the fall of the fall in 2019, shows an increase of 588 percent and annual inflation rates of imported goods had an increase of 412 percent.

The importance of this is a dramatic inflation rate, where this increase in the price of these products will be ultimately provided to the Iranian citizens and will have a direct impact.

According to the report and its comparison with the previous season, in the summer of 2020, the number was 498.2 and increased in the autumn to 588.8 percent and according to the increase of the rate of the point-to-point inflation, it had an increase of 90.6 percent.

Changing the price index of imported items based on dollar information was also 50.1 percent in the fall of 2020 compared to the fall of 2019.

Annual inflation

Changes in the average price index of imported goods based on rial data from the fall of 2020 were 491.9 percent, compared with the annual inflation of the summer of 2020 (equal to 412.2 percent), increased by 79.7 percent.

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According to the Iranian Center for Statistics Center, the lowest annual inflation rate in the Rial section belongs to the “raw skin and leather skin” group, and the highest rate belongs to the “mechanical machinery and machines, electrical equipment, components and spare parts.”

Point to point inflation

Changes in the price index of import-based data based on Rial data in the fall of 2021 were 588.8 percent compared to the autumn of 2019 and compared with the point-to-point inflation to the summer of 2020 (equal to 498.2 percent), had an increase of 90.6 percent.

These statistical data show the increase in the inflation in imported goods and, consequently, the consumer goods of the citizens, the leaders and brokers of the government while lying about these statistics speak about a “reducing inflation”, including the President of this regime, who in a surprising speech spoke about the “process of reducing inflation” and relied it on “all the factors.”

Perhaps there is no need to argue about the steady increase in inflation in Iran in recent years, but certainly whose who are experiencing this increase in inflation are the Iranian people without requiring specialized economic science.

Engineered statistics

Experience has shown, what is presented as “official statistics” in the specialized organs of the Iranian government are hugely engineered statistics to keep public opinion on the belief that what leaders and economic agents and government’s brokers called as “economic prosperity” and other titles like, are based on the reality.

And sometimes to cover their fake statistics and such contradictions, the state-run media is ordered to speak about contradiction and why the statistical data of various economic institutions that the economic custodians announce contradict.

The expression of such statistics is an attempt to keep public opinion away from the depth of the catastrophe behind the curtain.

Nonetheless, the feeling of the market tell everything to the Iranian people about the situation of this economic turmoil, and the announcement of such engineered statistics only reveals some bitter truths.

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