Iran’s inflation rate hits 33.7%, says Statistical Center

TEHRAN – The Statistical Center of Iran has announced that the inflation rate for the 12-month period ended the eleventh Iranian calendar month of Bahman (ended on February 19) hit 33.7 percent, a 1.3 percent decline compared to the previous month.

Meanwhile, the point-to-point inflation rate hit 22 percent.

In November 2013, Iranian President Hassan Rouhani said his government plans to decrease the inflation rate to below 25 percent by the end of the next Iranian calendar year 1393 (March 20, 2015).

The inflation rate is projected to be 35 percent at the end of the current Iranian calendar year (March 20, 2014).

“First, the administration plans to curb the inflation rate and reform the banking system, and then change the method of (cash) subsidy payments,” he added.

In October 2013, Finance and Economic Affairs Minister Ali Tayyebnia said the government plans to reduce the inflation rate by 6 to 7 percent by the end of the current calendar year (March 20, 2014).

By Tehran Times

 

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