Baku, Azerbaijan, Aug. 22
By Fatih Karimov – Trend:
The Statistics Center of Iran announced that the inflation rate in urban areas for a 12-month period ending in the fifth Iranian calendar month of Mordad (ended on Aug. 21) stood at 8.7 percent, 0.3 percent less compared to the preceding month.
The country's point-to-point inflation in the mentioned month was 7.4 percent, 0.9 percent more than the previous month, the Statistics Center of Iran said Aug. 22.
Point-to-point inflation is a term frequently used by the Iranian government, denoting the inflation usually over one month.
The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Iranian president Hassan Rouhani came to power, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.
Rouhani has promised to decrease the inflation rate to 5 percent in the Iranian fiscal year of 1395 (to end on March 20, 2017).