TEHRAN - The Central Bank of Iran (CBI) has announced that the growth rates of monetary base and money supply declined significantly in the previous Iranian calendar year (ended on March 19), IRNA reported.

Based on the CBI data, the money base growth declined by 16.9 percent from 45 percent at the beginning of the year to 28.1 percent at the end of the previous Iranian calendar year, while the money supply growth also fell to 17.5 percent at the year-end.

Liquidity growth also declined from 31.1 percent to 24.3 percent in the previous year.

Back in April, CBI announced that the point-to-point Producer Price Index (PPI), which is a measure of wholesale inflation, decreased 16.5 percent from 40.7 in March 2023 to 24.5 in late March 2024.

As reported, the Consumer Price Index (CPI), which is an indication of inflation based on the prices paid by consumers, also decreased by 4.8 percent from 37.3 in March 2023 to 32.6 in March 2024.

In February, the Statistical Center of Iran (SCI) put the average inflation rate in the twelve months ended on January 20, which marks the end of the 10th Iranian calendar month Dey, at 42.5 percent, noting that the figure fell by 1.1 percent from the previous year’s same period.

The center put the country’s point-to-point inflation rate at 35.8 percent in the 10th Iranian calendar month, which means families have paid an average of 35.8 percent more for purchasing the same package of commodities and services in that month, compared to the same month in the preceding year.

The Statistical Center of Iran has put the average inflation rate in the twelve-month period that ended on March 20, 2023, which marks the end of the Iranian calendar year 1401, at 45.8 percent.

The center had put the inflation rate in the twelve-month period that ended on March 20, 2022 (the end of the Iranian calendar year 1400) at 40.2 percent and that of the Iranian calendar year 1399 at 36.4 percent.

In mid-July 2023, the International Monetary Fund (IMF) in an economic outlook report said inflation in Iran which was reported to be 49 percent in 2022 is expected to fall to 30 percent in 2024.

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