Iran’s public transport fares to rise by 20-30 percent

Business Materials 8 March 2013 14:43 (UTC +04:00)

Azerbaijan, Baku, Mar.8 / Trend F.Mehdi/

Public transport fares have been proposed to be increased by 20-30 percent in the next Iranian calendar year, which begins on March 21, the Fars News Agency quoted Tehran Deputy Mayor Hamzeh Shakib as saying.

Bus and subway fares will be increased by 20 percent, while taxi fares will be increased by 30 percent, he noted.

The new rates have been set based on the inflation rate which has been announced by the Central Bank, he added.

Inflation rate in the 12-month period ended the eleventh Iranian calendar month of Bahman (February 18) hit 29.8 percent, the Fars News Agency reported.

The inflation rate rose by 1.1 percent compared to the 12-month period ended on January 19.

The Central Bank of Iran has announced that the inflation rate in the current Iranian current calendar year, which ends on March 20, will hit 31.5 percent, ISNA reported.

The inflation rate had been projected to hit 32 percent, but measures have been taken to curb the rate at 31.5 percent, ISNA quoted Central Bank governor Mahmoud Bajmani as saying.