Inflation rate in Iran falls to 15.2%
Baku, Azerbaijan, Feb. 23
By Umid Niayesh - Trend:
The inflation rate in Iran fell to 15.2 percent for the 12-month period to the eleventh Iranian calendar month of Bahman (ended on Feb. 20).
The inflation rate decreased by 0.6 percent compared to the 12-month period to the preceding month, Mohammad Baqer Nobakht, the head of the Iran's Management and Planning Organization said
However, the Central Bank of Iran (CBI) has not yet announced the inflation rate for the month of Bahman, the country's official IRNA news agency reported Feb. 23.
The country's point-to-point inflation in the mentioned month was 14.4 percent, not changed from the previous month, Nobakht said.
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.
Iranian president Hassan Rouhani has promised to decrease the inflation rate to 5 percent in the Iranian fiscal year of 1395 (to end on March 20, 2017).
The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Rouhani came to power, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.
Follow the author on Twitter: @UmidNiayesh