Baku, Azerbaijan, Dec. 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 ninth Iranian calendar month of Azar (ended on Dec. 22) hit 12.6 percent, 0.5 percent less compared to the preceding month.
The country's point-to-point inflation in the mentioned month also decreased by 0.9 percent to 9.9 percent, the center reported Dec. 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 222.6 units in the ninth month of the current fiscal year, which is 1.2 percent more than its preceding month.
The index for foods, drinks, and tobacco products was 258.3, which shows an increase of 3.1 percent compared to the preceding month and a growth of six percent when compared to the same time last year.
The index for services and non-edible goods hit 210.5. That number comes with a monthly growth of 0.4 percent and an annual growth of 11.7 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 five percent in the Iranian fiscal year of 1395 (to end on March 20, 2017).