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05/01/14

Iran's inflation rate hits 32.5%: Central Bank

Source: Tehran Times

Central Bank of Iran (CBI) has announced that the inflation rate for the 12-month period ending the first Iranian calendar month of Farvardin (March 21- April 20) hit 32.5 percent compared to the same period in the previous year.


The Inflation Monster (cartoon by Saeed Sadeghi)

The consumer price index (CPI) in Iran's urban areas reached 188.5 percent in Farvardin, indicating one percent growth compared to the previous month, the Mehr News Agency reported on Wednesday.

The figure showed 17.4 percent rise compared to the same month last year.

Meanwhile, the Statistical Center of Iran put the inflation rate at 30.2 percent for the 12-month period ending the first Iranian calendar month of Farvardin, compared to the same period in the previous year.

According to the report released by the Statistical Center of Iran, the consumer price index (CPI) in Iran's urban areas has increased by 17.6 percent in Farvardin compared to the same month last year.

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 - 03/25/16 ... --



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