Financial Tribune - Consumer inflation registered a year-on-year increase of 48% in the Iranian month ending July 22 compared with the similar month of last year, the Statistical Center of Iran reported.

The overall Consumer Price Index (using the Iranian year to March 2017 as the base year) stood at 179.7 in the fourth month of the Iranian year, indicating a 2.8% rise compared with the previous month.

The goods and services CPI in the 12-month period ending July 22 increased by 40.4% compared with last year’s corresponding period. SCI had put the inflation rate for the preceding Iranian month, which ended on June 21 at 37.6%.

Year-on-year and annual consumer price inflation measured for rural areas indicate higher rates than those in urban areas last month. The index registered a YOY increase of 46.9% for urban areas and 54.3% for rural areas compared with the similar month of last year.

The overall CPI reached 178.4 for urban households and 186.5 for rural households, indicating an increase of 2.9% for urban areas and 1.8% for rural areas compared with the previous month.

SCI put urban and rural 12-month inflation for the month under review at 39.7% and 44.4%.