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Iran's inflation rate rises by 1.4% in month

Source: Tehran Times

The inflation rate in Iran rose by 1.4 percent in the sixth Iranian calendar month of Shahrivar, which ended on September 21, reaching 24.9 percent, the Mehr News Agency reported on Wednesday.

Central Bank of Iran
Central Bank of Iran

The Central Bank of Iran has reported that inflation rate has been rising since the beginning of the current year. The rate was 21.8 percent in the first calendar month of Farvardin.

The intelligence unit of The Economist has predicted that the inflation rate in Iran will fall to 21 percent in the next Iranian calendar year from 30 percent in the current year, ISNA reported.

In its October report, The Economist predicted that the inflation rate will decline to 17 percent in the calendar year, which ends in March 2015.

Meanwhile, International Monetary Fund (IMF) says Iran will manage to bring its inflation rate lower and boost its economic growth in 2013 in the face of Western sanctions imposed on the country.

In its semi-annual World Economic Outlook report on October 9, the IMF predicted a trade surplus for Iran in 2012 and the following year and suggested the Western bans on Iran's oil will not be able to stunt the Islamic Republic's economy.

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