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Rural inflation in Iran down to 14.2%

Business Materials 2 March 2015 12:56 (UTC +04:00)

Baku, Azerbaijan, Mar. 2

By Khalid Kazimov - Trend:

The Statistical Center of Iran has announced that in the 12 months leading to Feb. inflation in the country's rural areas reached 14.2 percent.

The overall index (as for 100 = 1390) in the month of Bahman (Jan. 21 - Feb. 19) showed 0.215, which, compared to the previous month, was 0.2 percent higher.

Increase of the overall index compared to the same month of the previous year (called point-to-point inflation in Iran) was 13.9 percent, which increased by 13.8 percent compared to the previous month.

In Iran's economic literature, the point-to-point inflation rate statistics identify the rate between distinct points in time, such as the inflation rate at the end of a month compared to the rate of inflation at the end of the same month in the previous year.

The overall index change percentage for rural inflation in the twelve months leading to Feb. was 14.2 percent, which, compared to the twelve months leading to Jan., had decreased by 14.9 percent.

Iranian President Hassan Rouhani said on August 20 that the country's inflation will fall below 20 percent by the end of the current calendar year (March 20, 2015). He went on to note that the country was struggling with inflation rate of 40 percent last year.

Iranian president has vowed to decrease the inflation rate to 5 percent in the [Iranian calendar] year of 1395 (to end on March 20, 2017).

The inflation rate in Iran in 2005, when Ex-President Mahmoud Ahmadinejad took the government was about 10.4 percent, but in mid-2013, when Ahmadinejd handed over the office to Rouhani, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.

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