Mohammad Baqer Nobakht

Inflation rate stands at 8.8 percent

Tehran, Sept 26, IRNA – The Central Bank of Iran (CBI) announced on Monday that the inflation rate rached 8.8 percent in the 12-month period leading to the Iranian calendar month of Shahrivar (ended September 21).

On Aug 22, Vice President and Head of Plan and Budget Organization Mohammad Baqer Nobakht said the annual inflation by August stood at 8.7 percent down by 0.3 percent compared to the annual inflation ending one month earlier.

He said the monthly rate of inflation in Mordad (July 22-August 21) stood at 1.4 percent while the figure was 1.6 percent one month earlier in Tir (June 22-July 21).

The point-to-point inflation in the Iranian month of Mordad stood at 7.4 percent while the figure was 6.5 in the preceding Iranian month of Tir, he said.

The government is determined to continue with the policy of controling inflation and lowering the price of goods and commodities, Nobakht said.