Baku, Azerbaijan, Apr.23
By Khalid Kazimov - Trend:
The urban inflation rate in Iran for last month, which ended on April 20, hit 14.5 percent.
The report released on Iran's Statistic Center's website also adds that the point-to-point inflation rate also reached 14 percent during last month in urban areas.
Iranian First Vice President Eshaq Jahangiri said March 20 that President Hassan Rouhani's administration managed to lower Iran's economic inflation from 40 percent when it came to office to 16 percent at the end of the previous Iranian fiscal year (March 20).
The administration of President Hassan Rouhani was faced with a budget deficit of more than 100 trillion rials (about $3.2 billion) in the first nine months of the previous Iranian fiscal year. Rouhani has promised to decrease the inflation rate to 5 percent in the Iranian fiscal year of 1395 (to end on March 20, 2017).
The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Rouhani came to power, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.
Edited by CN