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Iran's inflation rate hits 17.2%

Source: Tehran Times

The Central Bank of Iran (CBI) governor said the country's twelve-month inflation rate ended to the calendar month of Mordad (July 23-August 22) reached 17.2 percent, showing a modest growth despite implementing the subsidy reform plan.

The Mehr news agency quoted Mahmoud Bahmani as saying that the direct share of the subsidy reform plan in the 16.3 percent inflation of the last month was only 4.5 percent and the indirect share was 1.9 percent.

Earlier this month, the CBI chief predicted that inflation will reduce in the coming months and the country will achieve its goal of single digit inflation in the next Iranian calendar year.

Central Bank of Iran (CBI)

The subsidy reform plan, which was implemented in October 2010, charts out how the Iranian government will gradually slash national energy subsidies over the course of five years, with low-income families being compensated directly with cash subsidies.

... Payvand News - 09/05/11 ... --

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