Tehran, Iran, Oct. 7
By Milad Fashtami - Trend:
Iranian Minister of Economic Affairs and Finance Ali Tayebnia said that country's inflation in the next 12-month will not exceed 15 percent.
"So, we can expect a considerable decrease in Iran's inflation," he said.
"Iranians have already sensed the decrease in inflation," he said, adding that government's main priority is to improve the nation's living condition.
"Once the inflation decreases, the banks' interests will also fall," he added.
The Central Bank of Iran announced on September 26 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.
The point-to-point inflation rate statistics identifies 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) 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 (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 now I promise that the inflation will fall below 20 percent by the mention time," Rouhani said, Iran's IRNA News Agency reported.
He went on to note that the country was struggling with an inflation rate of 40 percent last year.
"When the government started its work I promised that the inflation will fall below 35 by the end of the year (March 20) and as you saw the inflation rate stood at 34 percent at the end of the year," Rouhani added.
The Iranian president has vowed to decrease the inflation rate to 5 percent in the [Iranian calendar] year of 1395 (to end on March 20, 2017), Iran's Mehr News Agency reported.
"Containing inflation is the main economic priority of the government," he said.
The inflation rate in Iran in 2005, when ex-president Mahmoud Ahmadinejad assumed the presidency 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.