CBI targets annual inflation rate of 22%

May 26, 2020 - 15:38

TEHRAN- Central Bank of Iran (CBI) in a statement on Tuesday announced that the annual inflation rate for the current Iranian calendar year (ends on March 20, 2021) is set to be 22 percent.

The statement published on the website of the CBI read, “Given the adopted policies and taken measures and also taking the country’s macro-economic factors into account, the CBI believes that based on the realistic scenarios, the inflation rate in the current year will continue its downward trend.”

The Statistical Center of Iran (SCI) has announced that the inflation rate in the twelve-month period ended on April 19, which marks the end of the first Iranian calendar month of Farvardin, stood at 32.2 percent.

The inflation rate has fallen 2.6 percent in the mentioned time span from the twelve-month period ended in the last day of the previous year.

The center expects the inflation rate to experience a downward trend in the first quarter of this year.

Last year, CBI Governor Abdolnaser Hemmati had said, “Our goal is curbing inflation rate and no estimation shows an inflation rate of over 20 percent for the next year”.

In the Iranian calendar year of 1395 (ended on March 20, 2017), Iran could manage to experience a single-digit inflation rate after 26 years.

The inflation rate stood at 9.8 percent in that year according to the Statistical Center of Iran and at nine percent according to the CBI.

But since June 2018, when the inflation rate stood at 10.2 percent, as announced by the CBI, the country’s experiencing double-digit inflation rates again.

MA/MA

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