Iran reaches one-digit inflation after 25 years
Baku, Azerbaijan, June 21
By Fatih Karimov – Trend:
Iran witnessed a one-digit inflation rate after 25 years as the economic inflation in the country stood at 9.5 percent.
Iran's Statistics Center announced that the inflation rate in Iran's urban areas for the 12-month period to the third Iranian calendar month of Khordad (ended on June 20) hit 9.5 percent, 0.7 percent less compared to the preceding month.
The country's point-to-point inflation in the mentioned month also decreased by 0.7 percent to 6.1 percent, the center reported June 21.
Point-to-point inflation is a term frequently used by the Iranian government, denoting the inflation usually over one month.
The center also said that setting the Iranian fiscal year 1390 (March 21, 2011 to March 20, 2012) as the main one, that is 1390=100, the consumer price index (CPI) in Iran ’s urban areas stood at 224.2 units in the third month of the current fiscal year, which is 0.5 percent more than its preceding month.
The index for foods, drinks, and tobacco products was 260.1, which shows an increase of 0.1 percent compared to the preceding month. The figure shows an annual growth of 3.8 percent.
The index for foods also stood at 257.4, one percent more month on month and with a growth of 3.8 percent when compared to the same time last year.
The index for services and non-edible goods hit 211.8. That number indicates 0.2 percent monthly increase, meanwhile comes with an annual growth of 6.9 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.