The Statistical Center of Iran has reported that the annual inflation rate for the past calendar year ended on March 19, 2011 stood at 15.2 percent, the Asr-e Iran news website said.
Meanwhile, the Central Bank of Iran governor Mahmoud Bahmani announced on December 11 that the country's inflation growth rate will decline in the coming months. He put last year's inflation rate at 12.4 percent.
The rate would hit 21.6 percent by the end of the year, the deputy economy minister, Mohammadreza Farzin, said in December 2011.
Speaking to the Mehr news agency, he added that despite some speculations on a surge in Iran’s inflation rate by 50-500 percent after implementing the Subsidy Reform Plan, the inflation rate has remained below 25 percent, the Mehr news agency reported.
In December 2010, Iran finally launched a long-awaited program to slash energy, food and water subsidies, in an attempt to rein in unnecessary budgetary spending and eliminate waste.
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