Volume. 12228

Iran’s inflation rate hits 30.3%: Central Bank
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c_330_235_16777215_0___images_stories_edim_04_mg1(122).jpgTEHRAN – The Central Bank of Iran has announced that the inflation rate for the 12-month period that ended in the second Iranian calendar month of Ordibehesht (May 21) hit 30.3 percent.
Meanwhile, the point-to-point inflation rate hit 16.6 percent, according to the CBI report.
On May 28, Iranian government spokesman Mohammad-Baqer Nobakht stated that the inflation rate for the abovementioned period had hit 28.4 percent, a 2 percent decline compared to the previous month.
The government has no plans to increase prices of consumer goods, Nobakht said, adding that the policy of curbing the inflation rate is being pursued.
In March, Iranian Finance and Economic Affairs Minister Ali Tayyebnia said the country’s inflation would fall below 15 percent in Iranian calendar year 1393 (March 2014, March 2015). 
If we succeed in continuing the current trend [of economic progress], the inflation rate will certainly reach below 15 percent, he added.
In November 2013, Iranian President Hassan Rouhani said his government plans to decrease the inflation rate to below 25 percent by the end of the current Iranian calendar year.
“First, the administration plans to curb the inflation rate and reform the banking system, and then change the method of (cash) subsidy payments,” he added.

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