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Iran's inflation rate hits 35.9%


Source: Tehran Times

The Central Bank of Iran has announced that the inflation rate for the 12-month period ended the third Iranian calendar month of Khordad (June 21, 2013) compared to the same period in the previous year hit 35.9 percent, the Mehr News Agency reported. This is while the Statistical Center of Iran has put the inflation rate for the mentioned period of time at 32.6 percent.

The center has announced that the point-to-point inflation rate in the month of Khordad hit 41.2 percent.

Earlier this month, Central Bank of Iran Governor Mahmoud Bahmani said that the country would curb inflation through three financial policies.

"By selling bonds and gold coins as well as reducing liquidity, we hope to curb inflation," Bahmani stated.

Iran's average monthly inflation rate was 25.4 percent during the previous Iranian calendar year, which ended on March 20.

In April, the International Monetary Fund reported that Iran's economy contracted by 1.9 percent in 2012 and is expected to shrink by 1.3 percent this year.

However, the economy of the Islamic Republic is forecast to grow next year by 1.1 percent, the IMF said in its annual World Economic Outlook.

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