The Gini Index stood at 0.3938 in the last Iranian year (March 2021-22), which indicates a 0.0068 decline compared with the year before, the Statistical Center of Iran said in a new report.
The center put the index for urban and rural households at 0.3757 and 0.3594 respectively.
The Gini index, or Gini coefficient, was devised by an Italian statistician named Corrado Gini in 1912. By far, it has been the most popular measure of socioeconomic inequality, especially in terms of income and wealth distribution.
The Gini index ranks income inequality on a scale of zero — no inequality — to one, the maximum level of inequality. In other words, the closer the number is to one, the more wealth is concentrated in the hands of fewer people, the bigger the income disparity. Because of the way the scale is constructed, a modest-sounding difference in the Gini ratio implies a big difference in inequality.
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