Iran’s inflation rate registers rise

Business Materials 21 February 2018 11:03 (UTC +04:00)

Baku, Azerbaijan, Feb. 21‎

By Gazenfer Hamidov – Trend:

The Statistics Center of Iran has announced that the inflation rate in urban areas for a 12-month period ending in the eleventh Iranian calendar month of Bahman (ended on Feb. 20) stood at 8.2 percent, 0.1 percent more compared to the preceding month.

The country's point-to-point inflation in the mentioned month was 8.4 percent, 0.1 percent less compared to the previous month, the Statistics Center of Iran said Feb. 21. 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 1395 (March 21, 2016 to March 20, 2017) as the main one, that is 1395=100, the consumer price index (CPI) in Iran’s urban areas stood at 111.2 units in the eleventh month of the current fiscal year, which is 0.3 percent more than in the preceding month.

The figure shows an annual growth of 8.2 percent.

The index for foods, drinks and tobacco stood at 115.7, showing a rise by 0.4 percent compared to the preceding month and a growth rate of 11 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.