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Iran's inflation rate falls 2.4% in a month

Source: Tehran Times

The Statistical Center of Iran has announced that the inflation rate for the 12-month period that ended on the last day of the Iranian calendar month of Tir (July 22) was 24.2 percent, a 2.2 percent decrease compared to the previous month.

cartoon by Nikahang Kowsar

The center put the point-to-point inflation rate at 14.8 percent, compared to the previous month's 14.7 percent.

On July 20, Finance and Economic Affairs Minister Ali Tayyebnia said the Iranian government will implement anti-recession programs until a single-digit inflation rate is achieved.

The administration has prepared a comprehensive plan to combat high inflation and bring the national economy out of recession, the IRNA news agency quoted Tayyebnia as saying.

In March, Tayyebnia said that the country's inflation rate would fall below 15 percent in Iranian calendar year 1393 (March 2014-March 2015).

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

On July 14, the administration of President Hassan Rouhani unveiled a package of plans to support the leading domestic economic enterprises, boost industrial and service exports, and promote tourism, which had been identified as the initial factors necessary for helping to bring the national economy out of recession.

In November 2013, Rouhani said his government would make efforts to decrease the inflation rate.

"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 - 08/02/14 ... --

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