Iran’s inflation rate hits 14.8%
Baku, Azerbaijan, March 21
By Umid Niayesh - Trend:
The inflation rate for the 12-month period to twelfth Iranian calendar month of Esfand (ended on March 20) stood at 14.8 percent, Adel Azar, head of the Statistics Center of Iran said.
The figure is 0.4 percent less compared to the preceding month.
The country's point-to-point inflation in the mentioned month was 14.2 percent, 0.2 percent less than the previous month, Azar said, Iran's official IRIB news agency reported March 21.
The point-to-point inflation rate statistics determines the rate between distinct points of 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 of Iran (CBI) has not yet announced the inflation rate for the month of Esfand.
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), 0.6 percent less compared to the 12-month period to the preceding month.
The country's point-to-point inflation in the mentioned month was also 14.4 percent, not changed from the previous month, according to the Statistics Center.
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 President 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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