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CBI unveils inflation rate in Iran

02 December 2017 [13:45] - TODAY.AZ

By  Trend

The inflation rate in Iran’s urban areas for the 12-month period to the eighth Iranian calendar month of Aban (ended on Nov. 22) hit 9.9 percent, which indicates a rise by 0.1 percent compared to the preceding month, the Central Bank of Iran (CBI) said on November 26.

Meanwhile the Statistical Center of Iran put the inflation rate for the same period at 8.2 percent, 0.6 percent more compared to the figure for last month from the Center.

So, there is a 1.7 percent difference between the figures unveiled by the two official Iranian entities.
The announced inflation rate between the two organizations was different in recent months and the Statistical Center's inflation rate was lower than that of the Central Bank.

The country’s point-to-point inflation in the eighth calendar month of current fiscal year was 9.6 percent, according to the CBI. The point-to-point inflation statistics testifies to the rate between distinct points in time, such as the inflation rate at the end of a month compared to the rate of inflation at the end of the same month in the previous year.

The Central Bank also said that setting the Iranian fiscal year 1395 (March 21, 2016 to March 20, 2017) as the main one, that is 1395=100, the consumer price index (CPI) in Iran’s urban areas stood at 109.8 units in the eighth month of the current fiscal year, which is 1.3 percent more than in the preceding month.

The figure shows an annual growth of 9.6 percent.

The index for foods and drinks shows an increase by 1.8 percent compared to the preceding month and a growth rate of 13.9 percent when compared to the same time of last year, according to the CBI.
The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Iranian President Hassan Rouhani came to power, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.


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