Iran’s inflation rate down to 9.2% - Central Bank

Business Materials 26 July 2016 18:21 (UTC +04:00)

Baku, Azerbaijan, July 26

By Khalid Kazimov – Trend:

The Central Bank of Iran (CBI) announced that the inflation rate in the urban area for the 12-month period to the fourth Iranian calendar month of Tir (ended on July 21) hit 9.2 percent, 0.5 percent less compared to the preceding month.

The Central Bank 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 242.8 units in the fourth month of the current fiscal year, which is 0.8 percent more than its preceding month.

The figure shows an annual growth of 8.1 percent. The index for foods and drinks fell by 0.2 percent compared to the preceding month.

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.

In a late June report, the CBI announced that inflation has reached a one-digit figure, for the first time in a quarter century.