TEHRAN - The Central Bank of Iran (CBI) has announced that the inflation rate for the 12-month period ended in the last day of the ninth Iranian calendar month of Azar (December 20) compared to the same period in the previous year hit 8.6 percent, IRIB news reported on Sunday.

The CBI has announced that the inflation rate in the past Iranian calendar year, which ended on March 19, 2016, stood at 11.9 percent.
On June 14, Finance and Economic Affairs Minister Ali Tayyebnia said the country planned to reduce the inflation rate to a single digit by the coming two months.
The goal was achieved in the third Iranian calendar month of Khordad (ended on June 20) when the inflation rate hit 9.5 percent.
Meanwhile, the International Monetary Fund (IMF) in a recent statement has predicted an inflation rate of about 9 percent for Iran in 2016 and 2017. 
Curbing inflation was one of the major promises by Iranian President Hassan Rouhani during his presidential campaign. Under the previous administration, inflation skyrocketed to cross 44%. 

MA/MG