Speculations suggest Iran’s plans to edge up inflation rate

Business Materials 29 September 2017 16:08 (UTC +04:00)

Baku, Azerbaijan, Sept. 29

By Khalid Kazimov – Trend:

Although the latest statistics indicate a strong will to keep down Iran’s inflation rate, some observers suggest that the administration may turn a blind eye on the gradual increase of inflation aimed at tackling recession.

“There are increasing speculations suggesting that the administration is planning to allow a gradual increase of the inflation rate,” Mehrdad Seyed Asgari, a Norway-based Iranian commentator, told Trend.

“The government is apparently planning to combat economic recession through edging up the inflation in the country,” he added.

For the first time after about a quarter century Iran’s inflation rate declined into a single-digit row, bottoming out at 8.6 percent in June 2016.

However, an earlier report by the Central Bank of Iran (CBI) covering the 12-month period ending on July 21, inflation rate peaked at 10.3 percent.

The latest CBI report suggests that the figure for the 12-month period to the sixth Iranian calendar month ending to Sept. 22 hit 9.9 percent, indicating a fall by 0.1 percent compared to the preceding month.