President: Iran’s month-on-month inflation rate falls by 31%

TEHRAN (FNA)- Iran’s President Hassan Rouhani said the country’s month-on-month inflation rate declined by 31 percent which is a dramatic cut in Iran’s runaway inflation rate in the last year.

“Last (Iranian calendar) year (ended March 2o, 2014), the country was faced with a high inflation rate, but the government…took good steps in reducing the inflation rate. The month-on-month inflation rate which was 45 percent last year has reached 14.4 percent this year,” President Rouhani said.

He said a 31-percent decline in the inflation rate has been “unique”.

The president added that his administration still plans to drive the inflation down to below 25 percent next calendar year and to a single-digit rate the year after.

Rouhani said Iran should be led out of economic stagnation.

Analysts believe that a rise in production of goods and services has attracted liquidity to these sectors and led to the new fall in inflation rate.

By Fars News Agency

 

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