Iran inflation hits 21.1%
Tehran, Iran, Sept. 26
By Milad Fashtami - Trend:
The Central Bank of Iran announced that the inflation rate for the 12-month period to the sixth Iranian calendar month (ended on September 22) hit 21.1 percent.
The country's point-to-point inflation in the mentioned month was 14.4 percent, Iran's Mehr News Agency reported on September 26.
The point-to-point inflation rate statistics identify the rate between distinct points in time, such as the inflation rate at the end of a month compared to the rate of inflation at the end of the same month in the previous year.
The consumer price index (CPI) in Iran also stood at 202 units in the sixth month of the current year, which is 1.4 units more than its preceding month.
Iranian President Hassan Rouhani said on August 20 that the country's inflation will fall below 20 percent by the end of the current calendar year (begins on March 20, 2015).
"When I took office last year, I vowed to decrease the inflation rate to below 25 percent by the end of the current calendar year, but I now promise that the inflation will fall below 20 percent by the mention time," Rouhani said at the time.
He went on to note that the country was struggling with inflation rate of 40 percent last year.
Rouhani said containing inflation is the main economic priority of the government.
The inflation rate in Iran in 2005, when Ex-President Mahmoud Ahmadinejad took the government was about 10.4 percent, but in mid-2013, when Ahmadinejd handed over the office to Rouhani, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.