Iran’s inflation rate hits 15.8%-CBI
Baku, Azerbaijan, Feb. 23
By Umid Niayesh - Trend:
The Central Bank of Iran (CBI) announced that the inflation rate for the 12-month period to eleventh Iranian calendar month of Bahman (ended on Feb. 20) hit 15.8 percent.
The figure is 0.5 percent less compared to the preceding month, official website of the CBI reported Feb. 23.
However, Iranian Government Spokesman Mohammad Baqer Nobakht said that the inflation rate for the 12-month period to Bahman fell to 15.2 percent citing the Statistical Center of Iran.
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.
The Central Bank also said that the consumer price index (CPI) stood at 214.1 units in the eleventh month of the current fiscal year, which is 0.8 percent more than its preceding month.
The figure also indicates an increase by 16.2 percent compared to the same month of last 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.
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