Iran ranks 4th among developing countries in terms of high inflation
Baku, Azerbaijan, Jan. 18
By Fatih Karimov - Trend: Iran ranks 4th among developing countries in terms of high inflation rate.
The World Bank has reported that Iran's inflation rate hit 20.4 percent in Nov. 2014, ranking 4th among 64 developing countries.
Iran's inflation rate was 23.1 percent in Oct. 2014, the report added.
The world's average inflation rate in Nov. 2014 was 2.8 percent.
The inflation rate in Iran fell one percent to 16.8 percent for the 12-month period ended on the last day of the ninth Iranian calendar month of Azar (December 21), according to the Statistical Center of Iran.
In July 2014, Finance and Economic Affairs Minister Ali Tayyebnia said the Iranian government will implement anti-recession programs until a single-digit inflation rate is achieved.
The administration has prepared a comprehensive plan to combat high inflation and bring the national economy out of recession.