Volume. 12230

Stabilizing prices not an option to control inflation: minister
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c_330_235_16777215_0___images_stories_edim_04_ma2(24).jpgTEHRAN - The administration will not pursue the policy of curbing the inflation through stabilizing prices, Iranian finance and economic affairs minister said.
Ali Tayyebnia made the remarks on the sidelines of a cabinet meeting on Wednesday, the Fars news agency reported.
The inflation rate has dropped from 45 percent to below 15 percent in the country since President Hassan Rouhani took office in August 2013, the minister stated.
The administration is determined to reduce the inflation rate to a single-digit figure, he added. 
In March, Tayyebnia said the country’s inflation would fall below 15 percent in the 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 stated.
In November 2013, President 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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