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06/25/16

Single-Digit Inflation Rate Achieved In Iran: CBI

Source: Tehran Times

TEHRAN- The Central Bank of Iran (CBI) has announced that the inflation rate for the 12-month period ended in the last day of the third Iranian calendar month of Khordad (June 20) compared to the same period in the previous year hit 9.7 percent, the Tasnim news agency reported on Saturday.


cartoon by Ehsan Ganji, Ghanoon daily


Meanwhile, on June 21, Government Spokesman Mohammad Baqer Nobakht had put the figure at 9.5 percent.

The inflation rate for the 12-month period ended in the last day of the second Iranian calendar month of Ordibehesht (May 20) compared to the same period in the previous year was 10.2 percent.

On June 14, Finance and Economic Affairs Minister Ali Tayyebnia had said the country planed to reduce the inflation rate to a single digit by the coming two months.

Curbing inflation was one of the major promises by Iranian President Hassan Rouhani during his presidential campaign. Under the previous administration, inflation skyrocketed to cross 44%.

Tayyebnia also noted that the government is to institutionalize growth in the country's economy in a move to reach the five-percent economic growth which has been envisaged in the country's budget plan for the current Iranian calendar year (began on March 20).

The official believes that removal of the West-led sanctions against Iran's economy provides many opportunities for the country to achieve sustainable economic growth.

... Payvand News - 06/25/16 ... --



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