Iran's inflation rate reached 10.1 per cent in December year-on-year, the central bank said on its website on Monday, picking up slightly after the government lifted subsidies on food and fuel in December.

“The inflation rate has reached 10.1 percent in the past 12 months by the end of (the Iranian month of) Azar (December 21) compared to the same period last year,” said a central bank report.
“The inflation rate was 9.7 percent in the previous Iranian month of Aban.”
The government began slashing $20 billion of subsidies from December 19 despite warnings by economists and critics who noted it could lead to huge rises in prices of goods which were heavily subsidized, including gasoline, electricity and natural gas.
Removing subsidies could make Iran less vulnerable to any possible Western sanctions over its nuclear program.
The head of the Central Bank of Iran, Mahmoud Bahmani, had said Iran aimed to bring inflation down to 4 percent, without giving further details.
(Source: Reuters)