Majlis Research Center, the research arm of the Iranian Parliament, estimates the inflation rate for the fiscal year to March 19 will stand at 35%.
If the current conditions prevail, the inflation rate is expected to stick around 20-25% in the next fiscal year (March 2020-21). However, the report added that financing the government’s budget deficit by printing money would lead to higher inflation rates next year, Mehr News Agency reported.
Latest data released by the Statistical Center of Iran shows the average annual inflation continued the downward trend it started as of the 9th Iranian calendar month (Nov. 22-Dec. 21).
According to SCI's latest report, the average goods and services Consumer Price Index in the 12-month period ending Feb. 19, which marks the final day of the 11th Iranian month, increased by 37% compared with last year’s corresponding period.
SCI had put the average annual inflation rate for the preceding month, which ended on Jan. 20, at 38.6%.
The consumer inflation for the Jan. 21-Feb. 19 period registered a year-on-year increase of 25% compared with the similar month of last year.
The overall Consumer Price Index (using the Iranian year to March 2017 as the base year) stood at 197.6 last month, indicating a 1.1% rise compared with the month before.
CPI registered a year-on-year increase of 25.1% for urban areas and 24.4% for rural areas compared with the similar month of last year.
The overall CPI reached 196.7 for urban households and 202.6 for rural households, indicating a month-on-month increase of 1.2% and 0.7% for urban and rural areas, respectively.
SCI put urban and rural 12-month inflation for the month under review at 36.5% and 40.1% respectively.
