Iran’s inflation rate stands at 8.6%

Baku, Azerbaijan, Nov. 26

By Fatih Karimov – Trend

The inflation rate in Iran’s urban area for the 12-month period to the eighth calendar month of Aban (ended on Nov. 21) hit 8.7 percent, 0.1 percent less compared to preceding month, the Central Bank of Iran.

However, the Statistical Center of Iran has put the inflation rate for the same period at 7.5 percent, 0.4 percent less than the previous month.

The country's point-to-point inflation in the mentioned month was 9.1 percent, 0.2 percent less than the previous month.

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 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 249.5 units in the eighth month of the current fiscal year, which is 0.6 percent more than its preceding month.

The figure shows an annual growth of 9.1 percent.

The index for foods and drinks shows no change compared to the preceding month and a growth rate of 8.9 percent when compared to the same time last year, according to the CBI.

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.

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