Domestic Economy

Inflation Hit 45%: SCI

The rise in prices of goods and services accelerated at an unprecedented pace, after the government decided to overhaul the import subsidy system in May
Inflation Hit 45%: SCI
Inflation Hit 45%: SCI

The average annualized inflation in the ninth month of the current Iranian year (Nov. 22-Dec. 21) stood at 45%, the Statistical Center of Iran announced in a new report released on Thursday.
This is the seventh consecutive month the annualized inflation is rising after the government put into effect what it touted as “economic surgery” by abolishing the heavily subsidized import of essential goods.
The general goods and services Consumer Price Index (using the Iranian year to March 2017 as the base year) stood at 563 in the month under review, indicating a month-on-month rise of 1.9% and a year-on-year rise of 48.5%.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment