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06/27/13

Iran's inflation rate rises 1.6%, hits 32.6%

Source: Mehr News Agency, Tehran

Iran's inflation rate for the 12-month period concluding at the end of the third Iranian calendar month of Khordad (June 21, 2013) hit 32.6 percent, which was a 1.6 percent rise compared to the previous 12-month period, the Mehr News Agency reported on Wednesday, citing data compiled by the Statistical Center of Iran.


Inflation

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 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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