Iranian speaker: Real inflation rate is 29 percent

Iran Materials 26 September 2012 17:53

Azerbaijan, Baku, Sep.26/ Trend F.Milad/

Iranian Majlis Speaker Ali Larijani has said that the real rate for inflation is 29 percent.

"Based on official statistics, the inflation rate is 29 percent. In some cases, the figure has even gone further," he added, the ILNA news agency reported.

Meanwhile, the Fars news agency reported on September 4 that the inflation rate in Iran rose by 0.6 percent in the fifth calendar month of Mordad, which ended on August 21, reaching 23.5 percent.

While the inflation rate was declining in the past year, it started to rise again in the current year, so that it rose from 21.8 percent in the first month to 22.9 percent in the fourth month.

The Intelligence Unit of the Economist has predicted that Iran's inflation rate will decrease to 16.3 percent in the calendar year 1395 (ending March 2017).

The inflation rate will hit a record high in the current year and then it will be declining, the ISNA news agency cited the report.

The Economist has forecasted the inflation rate will stand at 21 percent in the next year.