Iran says it has plans to lower inflation, create more jobs

Iran says it has plans to lower inflation, create more jobs

Tehran, Iran, May 14

By Milad Fashtami - Trend:

Iran's Vice President Mohammad Bagher Nobakht said on May 14 that the government has some plans to lower the country's inflation by the end of the current calendar year.

Iran's fiscal and calendar year starts on March 21.

"The government also has some plans to create more job opportunities," he said, Iran's Fars News Agency reported.

The Central Bank of Iran announced that the inflation rate for the 12-month period to the first Iranian calendar month of Farvardin (ended on April 20) hit 32.5 percent.

The consumer price index (CPI) also stood at 188.5 units in the first month of the current year, which is 0.1 units more than the same month previous year, the IRIB News Agency reported on April 30.

The country's point-to-point inflation rate in the mentioned month was 17.4 percent.

The point-to-point inflation rate statistics identify the rate of inflation (increase in the CPI) between distinct points in time, such as inflation rate at the end of a month compared to the inflation rate in the end of same month in the previous year.

The Statistical Center of Iran had previously put the mentioned period's inflation at 32.2 percent.

Iranian President Hassan Rouhani said on March 29 that the country's inflation rate is projected to drop to 25 percent by the end of the current Iranian calendar year (March 20, 20105).

"Improving relation with foreign countries may even cause the figure to fall below 25 percent," he said.

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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