The Central Bankhas confirmedthe ongoing rise in inflation, reporting that the annual rate from June 2012 to June 2013 was 35.9%.The Bank has steadily raised the estimate of inflation since last years official mark of around 20%.
The real situation may be worse, however. Analysts and observers have said the rise in prices is far higher, with spikes for individual food items and goods. The Statistical Center of Iran reported the point-to-point trending rate is 41.2%, and President-elect Hassan Rouhani said the annual figure was 42% as he spoke to MPs this week.
Central Bank Governor Mahmoud Bahmani has insisted that the problem is being addressed, By selling bonds and gold coins as well as reducing liquidity, we hope to curb inflation.
However, in statements to MPs and in interviews, Rouhani and his key advisors have been saying that the economic difficulties of inflation, unemployment, and declining production are entrenched because of Government mismanagement.
By Enduring America
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