New survey data show precipitous drop in incomes
For the last few days I have been staring with disbelief at the results of the most recent Household expenditures and Income Survey from the Statistical Center of Iran. The drops in expenditures and incomes are much larger than I had expected. Too bad that the release of the Central Bank national accounts data have been delayed. They wold settle my questions about the recession last year because besides personal consumption, they would provide data on investment and public expenditures.
Rural incomes and expenditures rose by 2.8% and 10%, and urban by 13% and 15%. Taking into account an inflation rate of 25.4%, we aer talking about 20 and 10 declines in average incomes of rural and urban households, respectively. This level of decline did not happen in the worst years of the war with Iraq. The government was not short of cash, so why such a large drop?
I will have to get back to staring at the numbers until someone enlightens me!