Iran’s inflation rate increases to 10.2%
Baku, Azerbaijan, June 25
By Fatih Karimov – Trend:
The inflation rate in Iran’s urban areas for the 12-month period to the third calendar month of Khordad (ended on June 21) hit 10.2 percent, which indicates an increase by 0.4 percent compared to the preceding month, the Central Bank of Iran (CBI) said June 25.
While the CBI report confirms that Iran’s inflation rate has increased to a two-digit figure, the Statistical Center of Iran put the inflation rate for the same period at 7.4 percent, 0.3 percent more compared to the figure for last month from the Center.
So, there is a 2.8 percent difference between the figures unveiled by the two official Iranian entities.
Last year, the Central Bank of Iran announced that inflation has reached a one-digit figure, for the first time in a quarter century.
The country’s point-to-point inflation in the third calendar month of current fiscal year was 11 percent, which is 0.8 percent less than the previous month, according to the CBI.
The point-to-point inflation statistics testifies to 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 267.3 units in the third month of the current fiscal year, which is 0.5 percent more than in the preceding month.
The figure shows an annual growth of 11 percent.
The index for foods and drinks shows an increase by 0.4 percent compared to the preceding month and a growth rate of 15.2 percent when compared to the same time of 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.