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Inflation rate reaches 17.3 percent in Iran

Business Materials 5 September 2011 14:01 (UTC +04:00)

Azerbaijan , Baku, Sept. 5 /Trend/

The governor of the Central Bank of Iran said the country's twelve-month inflation rate ended in Mordad (July 23-August 22), having reached 17.2 percent, the Mehr news agency reported quoting Iran's Central Bank ( CBI) Governor Mahmoud Bahmani .

Bahmani said that the direct share of the subsidy inflation reform plan was 4.5 percent and the indirect share was 1.9 percent.

Iran's government has cut part of the subsidies for commodities and energy products since December 2010. Ahmadinejad's government pays $45 compensation per citizen monthly, instead of assigning the finance to subsidies.

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