BAKU, Azerbaijan, March 14. Iran's point-to-point inflation rate is set to be 23 percent in the next Iranian year (from March 20, 2024 through March 20, 2025), director general of Iran's Central Bank Mohammad Reza Farzin said during the meeting with Iranian banks' directors, Trend reports.
According to Farzi, the Central Bank of Iran will find it acceptable to achieve the long-term target if inflation reaches the specified level.
Farzin added that Iran's Central Bank has focused on maintaining economic stability in the country in the current Iranian year (from March 21, 2023 through March 19, 2024). Stability has been established in the country's markets as a result. While liquidity and inflation expectations remain in focus, foreign exchange gains will not be sharp.
The bank official noted that from the beginning of the current Iranian year to date (March 14), the Central Bank has disbursed funds totaling about $78 billion. Approximately $67 billion has been disbursed to relevant institutions, companies, organizations, and so on.
According to him, the Central Bank's foreign exchange reserves have grown at a rather appealing rate compared to previous years.
Meanwhile, according to a report by the Statistical Center of Iran, Iran's point-to-point inflation rose by 35.8 percent in the 11th month of the current Iranian year (January 21 through February 19, 2024) compared to the same month last year. It means families spent an average of 35.8 percent more on a range of products and services during the 11th month in Iran.
To note, two-point inflation is the percentage change in the number in the price index compared to the same period last year.
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