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Inflation rate hits 7.9% in Iran


Inflation rate hits 7.9% in Iran

The Statistical Center of Iran has announced that the inflation rate for the 12-month period ended in the last day of the seventh Iranian calendar month of Mehr (October 21) compared to the same period in the previous year hit 7.9 percent.



Meanwhile, the center put the point-to-point inflation rate at 6.6 percent in Mehr, showing 0.1 percent fall from its previous month.
The Central Bank of Iran (CBI) has announced that the inflation rate in the past Iranian calendar year of 1394, which ended on March 19, 2016, compared to its previous year stood at 11.9 percent.
On June 14, Finance and Economic Affairs Minister Ali Tayyebnia said the country planed 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.
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%.