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Iran's inflation rate drops 5.7% in 6 months: Central Bank

Source: Tehran Times

The inflation rate in Iran dropped 5.7 percent during the second half of the past Iranian calendar year, which ended on March 20, according to a report published by the Central Bank of Iran (CBI).

Inflation Rate (cost of fuel going up)
cartoon by Mana Neyestani, Iran Wire

The CBI put the inflation rate for the 12-month period ended the last Iranian calendar month of Esfand at 34.7 percent, a 5.7 percent fall compared to the figure corresponding to the sixth calendar month of Mehr (ended on October 22, 2013).

Iranian Finance and Economic Affairs Minister Ali Tayyebnia has said the country's inflation will fall below 15 percent in the current Iranian calendar year, which began on March 21.

If we succeed in continuing the current trend [of economic progress], the inflation rate will certainly reach below 15 percent, he added.

In November 2013, Iranian President Hassan Rouhani said his government plans to decrease the inflation rate to below 25 percent by the end of the current Iranian calendar year 1393 (March 20, 2015).

"First, the administration plans to curb the inflation rate and reform the banking system, and then change the method of (cash) subsidy payments," he added.

... Payvand News - 04/07/14 ... --

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