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Iran's inflation rate is high despite gradual economic recovery - WB

Finance Materials 11 January 2022 14:56 (UTC +04:00)
Iran's inflation rate is high despite gradual economic recovery - WB

TEHRAN, Iran, Jan. 11

Trend:

The world Bank, providing an update on key economic developments and policies of Iran, announced that inflation continued to surge in 2021, Trend reports citing WB official Website.

According to the latest report, despite the economic recovery following a lost decade (2011–2020) of negligible economic growth, inflation continued to surge in 2021 driven by inflationary expectations and further depreciation of the rial.

The inflation had been subdued after the US presidential elections and the start of nuclear talks, but This trend reversed after the pause in nuclear talks in June 2021 leading inflation to rise to 43 percent year-on-year in April–November 2021.

Referring to the impact of the Covid-19 pandemic on high inflation and the loss of real disposable incomes, the report says that the pandemic severely affected jobs and incomes in many labor-intensive activities, including high-contact services and the informal sector.

The Iran Economic Monitor examines economic developments and policies in a longer-term and global context and assesses their implications for the outlook for the country. Its coverage ranges from the macro-economy to financial markets to indicators of human welfare and development. It is intended for a wide audience, including policymakers, business leaders, financial market participants, and the community of analysts and professionals engaged in Iran.

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