Iran’s inflation rate increases to 7.1%
Baku, Azerbaijan, May 23
By Fatih Karimov – Trend:
The Statistics Center of Iran announced that the inflation rate in urban areas for a 12-month period ending in the second Iranian calendar month of Ordibehesht (ended on May 21) stood at 7.1 percent, 0.2 percent more compared to the preceding month.
The country's point-to-point inflation in the mentioned month was 9.6 percent, 0.2 percent more than the previous month, the Statistics Center of Iran said May 22.
Point-to-point inflation is a term frequently used by the Iranian government, denoting the inflation usually over one month.
The Statistics Center of Iran 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 244.4 units in the second month of the current fiscal year, which is 0.2 percent less than its preceding month.
The figure shows an annual growth of 9.6 percent.
The index for foods, drinks and tobacco stood at 299.1, showing a rise by 1.3 percent compared to the preceding month and a growth rate of 16.2 percent when compared to the same time last year.
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.