Iran’s inflation rate reaches 7.4%

Business Materials 24 June 2017 11:13 (UTC +04:00)

Baku, Azerbaijan, June 24

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 third Iranian calendar month of Khordad (ended on June 21) stood at 7.4 percent, 0.3 percent more compared to the preceding month.

The country's point-to-point inflation in the mentioned month was 9.4 percent, 0.2 percent less than the previous month, the Statistics Center of Iran said.

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 245.2 units in the third month of the current fiscal year, which is 0.3 percent more than its preceding month.

The figure shows an annual growth of 9.4 percent.

The index for foods, drinks and tobacco stood at 299.6, showing a rise by 0.1 percent compared to the preceding month and a growth rate of 15.2 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.