Iran’s inflation rate drops to 15.1%
Baku, Azerbaijan, Sept. 27
By Fatih Karimov - Trend:
The inflation rate in Iran for the 12-month period ended the last day of the sixth Iranian fiscal month of Shahrivar (Sept. 22) fell to 15.1 percent, a 0.3 percent decrease compared to the previous month.
The Central Bank of Iran put the Consumer Price Index (CPI) in urban areas at 225.7 in the month of Shahrivar, showing 0.6 percent rise compared to the previous month, Iran's IRIB reported on September 27.
The CPI for the sixth fiscal month rose by 11.7 percent year on year, the report added.
The inflation rate is actually the change in the Consumer Price Index from a year earlier.
In July 2014, Iran's Finance and Economic Affairs Minister Ali Tayyebnia said the Iranian government will implement anti-recession programs until a single-digit inflation rate is achieved.
The administration has prepared a comprehensive plan to combat high inflation and bring the national economy out of recession, Tayyebnia added.
Curbing inflation was one of the major promises by Iranian President Hassan Rouhani during his presidential campaign. Under the previous administration, inflation skyrocketed to cross 44%.
Central Bank of Iran (CBI) aims to lower inflation to single digits by 2017 and spur economic expansion as a landmark nuclear deal with world powers rolls back global sanctions, Bloomberg reported on July 14 quoting Peyman Qorbani, the vice governor for economic affairs at the CBI.