CBI puts Iran ’s inflation rate at 15.5%

Business Materials 26 May 2015 12:38 (UTC +04:00)

Baku, Azerbaijan, May 26

By Umid Niayesh - Trend:

The Central Bank of Iran (CBI) announced that the inflation rate for the 12-month period to the second Iranian calendar month of Ordibehesht (ended on May 21) hit 15.5 percent, no change from the preceding month.

However, the Statistical Center of Iran has put the inflation rate for the 12-month period to Ordibehesht 14.3 percent, 0.2 percent less than the previous month.

The country's point-to-point inflation in the mentioned month was 16.2 percent, official website of the CBI reported May 26.
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) in Iran 's urban areas stood at 221.8 units in the second month of the current fiscal year, which is one 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 five 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.

Edited by CN

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