Iran inflation rate reaches 9%

Business Materials 22 July 2016 17:47 (UTC +04:00)

Baku, Azerbaijan, July 22

By Emil Ilgar – Trend:

The Statistics Center of Iran announced that the inflation rate in the urban area for the 12-month period to the eleventh Iranian calendar month of Tir (ended on July 21) hit 9 percent.

According to a report, published on the Center's website, the point-to-point inflation also reached 6.5 percent.

The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Iranian president Hassan Rouhani came to power, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.

Rouhani has promised to decrease the inflation rate to five percent in the Iranian fiscal year of 1395 (to end on March 20, 2017).