Iran’s inflation rate hits 13.1%
Baku, Azerbaijan, Nov. 23
By Fatih Karimov- Trend:
Iran's Statistics Center announced that the inflation rate in Iran's urban areas for the 12-month period to the eighth Iranian calendar month of Aban (ended on Nov. 22) hit 13.1 percent, 0.2 percent less compared to the preceding month.
The country's point-to-point inflation in the mentioned month also decreased by 0.1 percent to 10.8 percent, the center reported Nov. 23.
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 center also said that the consumer price index (CPI) in Iran's urban areas stood at 220.1 units in the eighth month of the current fiscal year, which is 0.7 percent more than its preceding month.
The index for foods, drinks, and tobacco products was 250.6, which shows an increase of 0.3 percent compared to the preceding month and a growth of 7.9 percent when compared to the same time last year.
The index for services and non-edible goods hit 209.7. That number comes with a monthly growth of 0.9 percent and an annual growth of 12.1 percent.
The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Iranian president Hassan Rouhani came to power, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.
Rouhani has promised to decrease the inflation rate to 5 percent in the Iranian fiscal year of 1395 (to end on March 20, 2017).