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Iran's inflation rate hits 27.4%: Central Bank

Source: Tehran Times

The Central Bank of Iran announced that the inflation rate in the 12-month period ending the ninth Iranian calendar month of Azar (December 20, 2012) hit 27.4 percent. The figure hovered around 26.1 percent in the 12-month period ending November 20, the Mehr News Agency reported.

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 2012 report, The Economist predicted that the inflation rate will decline to 17 percent in the calendar year, which ends in March 2015.

Iran's inflation chart from to August 2011 to December 2012
Source: Donya-e Eqtesad (read related article - in Persian)

Meanwhile, International Monetary Fund (IMF) has said that 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.

Central Bank of Iran
Central Bank of Iran

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