Iran point-to-point inflation falls to 17.2 percent

Iran point-to-point inflation falls to 17.2 percent

Tehran, Iran, May 28

By Milad Fashtami - Trend:

Iran's point-to-point inflation rate in the second Iranian calendar month of Ordibehesht (ended on May 21) hit 17.2 percent.

Iran's Vice President Mohammad Bagher Nobakht said on May 28 that the mentioned month's inflation was 0.7 percent more than its preceding month, Iran's IRNA News Agency reported.

The point-to-point inflation rate statistics identify the rate of inflation (increase in the consumer price index) 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 inflation rate in Iran has faced a falling trend in the past nine months," Nobakht explained.

He went on to note that the government currently doesn't have any plans to increase consumer prices.

Nobakht expressed hope that the country's inflation fall below 20 percent by the end of the current Iranian calendar year (March 20, 2015).

The Central Bank of Iran said 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 of the previous year, the IRIB News Agency reported on April 30.

The Statistical Center of Iran has 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, 2015).

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

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 Ahmadinejad 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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