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Iran's inflation rate hits 39%, up over 5% in one month


Source: Tehran Times

Central Bank of Iran (CBI) has announced that the inflation rate for the 12-month period ending in the fifth Iranian calendar month of Mordad (August 22, 2013) hit 39 percent. The inflation rate for the 12-month period ending in the fourth Iranian calendar month of Tir was 33.9 percent, the Mehr News Agency reported.

CBI Governor Valiollah Seif has said that special attention must be paid to curbing runaway inflation, especially the rising price of consumer goods, in order to help reform the national economy.

Central Bank of Iran (CBI) Governor Valiollah Seif

Regulating the volume of liquidity, adopting proper monetary policies to get the country out of recession, and continuous monitoring of banks are some of the ways to help reform the national economy, he added.

Utilization of modern technologies in the banking system, revision of interest rates, and strict supervision of finance and credit institutions are other measures that can be taken to boost the national economy.

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