Galloping Inflation Linked to Multiple Factors: CBI 

The reasons fueling hyperinflation in the last calendar month are plenty, the Central Bank of Iran’s deputy for economic affairs said. 
“There are multiple factors. Main among them are supply shock and steep rise in the price of imported goods,” Payman Qorbani said, the CBI website reported. 
Speaking on state TV late on Sunday, Qorbani elaborated that rising forex rates and the government’s decision to reinvent forex subsidy policy were and are instrumental in pushing up consumer prices. 
On May 10 the government put an end to subsidizing imports of essential goods including corn, soymeal, unprocessed oil, oilseeds and barley plus wheat, flour and medicine.