Iran statistics center announces inflation rate at 15.2 percent for 2011

Iran Materials 24 January 2012 17:33 (UTC +04:00)

Azerbaijan, Baku, Jan. 24 / Trend F.Milad/

The Iranian Statistical Center reported that the annual inflation rate for the past calendar year ended on March 19, 2011 stood at 15.2 percent, the Asr-e Iran news website said.

Meanwhile, the Iranian Central Bank governor Mahmoud Bahmani announced on December 11 that the country's inflation growth rate will decline in the coming months. He voiced last year's inflation rate at 12.4 percent.

The rate will hit 21.6 percent by the end of the year, deputy economy minister, Mohammadreza Farzin, said in December 2011.

Speaking to Mehr news agency, he added that despite some speculations on a surge in Iran's inflation rate by 50-500 percent after implementing the Subsidy Reform Plan, the inflation rate has remained below 25 percent, Mehr news agency reported.

In December 2010, Iran finally launched a long-awaited program to slash energy, food and water subsidies.