Iran’s Inflation Cut to 19.5%

Tehran, April 5, IRNA – President Hassan Rouhani said his administration has cut Iran’s galloping inflation rate to 19.5 percent month-on-month.

“The month-on-month inflation was slashed from 43 percent to 19.5 percent” in the last month of the last Iranian calendar year which ended March 21, 2014, the petroenergy news network SHANA quoted the president as saying on Saturday.

Rouhani said the year-on-year inflation rate was also reduced to 32 percent, which would be cut to 25 percent in the current calendar year.

The president added that his administration will then focus on creating jobs.

Rouhani also said that fuel prices must become realistic in free zones where fuel smuggling is rife in order to bring a halt to this phenomenon.

He said residents of free zones need to be paid fuel subsidies.



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