Iran's inflation rate reached 15.4 percent

Business Materials 20 July 2011 13:18 (UTC +04:00)

Azerbaijan, Baku, July 20 /Trend/

Iran's rate of inflation between May 22 and June21 has reached 15.4 percent, ISNA reported, quoting Subsidy Policy Reform Organization Chief Behrouz Moradias saying.

"According to statistics from the Central Bank of Iran, the inflation rate between May 22 and June 21 has been estimated at 15.4 percent", he said.

The increase in the rate of inflation occurs annually. Though it is partially related to Iran's subsidy cuts, subsidies should not be considered the sole reason, he added.

Iran decreased subsidies of some commodities and energy products in December 2010.

However the Central Bank of Iran's latest statistics issued a report on the inflation rate from April 21 to May 20, and appointed the Statistical Center of Iran to issue an inflation rate. However the center has yet to issue its report on the rate of inflation from May 22 to June 21.

The Statistical Center of Iran issued a report on the rate of inflation from April 21 to May 20, which was 16.7 percent.