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Inflation in Iran has been curbed: government spokesman

Business Materials 3 January 2014 18:23 (UTC +04:00)
The rising inflation in Iran has been curbed, and has been declining since two months ago, the Mehr News Agency quoted Iranian government spokesman Mohammad Baqer Nobakht as saying on January 2.
Inflation in Iran has been curbed: government spokesman

Baku, Azerbaijan, Jan.2

By Fatih Karimov - Trend:

The rising inflation in Iran has been curbed, and has been declining since two months ago, the Mehr News Agency quoted Iranian government spokesman Mohammad Baqer Nobakht as saying on January 2.

The inflation rate is forecast to further decrease by the end of the current Iranian calendar year (March 21, 2014), he added.

The government plans to decrease the inflation rate to below 25 percent by the end of the next Iranian calendar year 1393 (March 20, 2015).

The inflation rate is projected to be 35 percent at the end of the current Iranian calendar.

The Statistical Center of Iran announced that the inflation rate for the 12-month period ending on Dec. 21, which was the last day of the Iranian calendar month of Azar (Nov. 22- Dec.21), hit 35.5 percent, which was down 0.4 percent compared to the previous month.

The point-to-point inflation rate hit 28.8 percent, which indicates a fall of 1 percent, compared to the preceding month.

Iran's average monthly inflation rate was 25.4 percent during the previous Iranian calendar year which ended on March 20, 2013.

Iran's inflation rate is hoped to be reduced by 6-7 percent by the end of the current Iranian calendar year (March 20, 2014), Iranian economy minister Ali Tayyebnia has said.

Through curbing runaway liquidity growth, the inflation rate is expected to decrease, he added.

Adopting proper and efficient monetary and fiscal policies will help curb the inflation rate, he said.

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