Inflation expected to be curbed next fiscal year: PBO head

November 26, 2021 - 16:20

TEHRAN – Head of Iran’s Budget and Planning and Budget Organization (PBO) has said considering the recent data provided by the Statistical Center of Iran (SCI) the inflation is expected to be curbed in the next Iranian calendar year (begins in March 2022).

“No Money creation has taken place in the last three months, and a recent report by the Statistics Center of Iran shows that inflation is declining, these are indications that the inflation could be curbed by the next year,” Masoud Mir-Kazemi said on Wednesday.

Referring to the current economic problems, the PBO head stated: "The problem of people today is livelihood, business situation, household income, and inflation, and solving problems in these areas is one of the tasks of the Planning and Budget Organization. Over the three-month, since the 13th government took office, PBO’s priority has been economic stability to restore confidence in the economy.”

SCI, in its latest report published on November 23, had put the average inflation rate in the twelve-month period ended on October 22, which marks the end of the eighth Iranian calendar month Aban, at 44.4 percent, falling one percent from the figure for the twelve-month ended to the seventh month.

The entity also put the country’s point-to-point inflation rate at 35.7 percent in the eighth month of this year, saying that the point-to-point inflation rate has also dropped by 3.5 percent in comparison to the figure for the preceding month.

The Statistical Center of Iran had put the inflation rate in the twelve-month period ended on March 20 (the end of the previous Iranian calendar year) at 36.4 percent, rising 2.2 percent from the figure for the twelve-month period ended on the last day of the preceding year.

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