Iran’s inflation rate hits 15.5% - CBI
Baku, Azerbaijan, Apr.25
By Fatih Karimov - Trend:
The inflation rate in Iran hit 15.5 percent in the first fiscal month of Farvardin (ended on April 20), according to the Central Bank of Iran.
Meanwhile, the Central Bank put the point-to-point inflation rate at 16.5 percent. 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 consumer price index in Iran's urban areas was 219.6 in the month of Farvardin, a 1.3 percent rise compared to its preceding month.
This is while Iran's Statistic Center has put the urban inflation rate for the same month at 14.5 percent.
Iranian First Vice President Eshaq Jahangiri said March 20 that President Hassan Rouhani's administration managed to lower Iran's economic inflation from 40 percent when it came to office to 16 percent at the end of the previous Iranian fiscal year (March 20).
The administration of President Hassan Rouhani was faced with a budget deficit of more than 100 trillion rials (about $3.2 billion) in the first nine months of the previous Iranian fiscal year. Rouhani has promised to decrease the inflation rate to 5 percent in the Iranian fiscal year of 1395 (to end on March 20, 2017).