Economy, Business And Markets

Central Bank Puts CPI Growth at 9.7%

Central Bank Puts CPI Growth at 9.7%Central Bank Puts CPI Growth at 9.7%

The goods and services Consumer Price Index for urban areas in the 12 months ending June 20, which marks the end of the Iranian month of Khordad, increased 9.7% compared with last year’s corresponding period, according to the latest report released by the Central Bank of Iran.

The CBI put the inflation rate for the preceding month of Ordibehesht, which ended May 20, at 10.4%.

The overall CPI (using 2011 as the base year) stood at 240.9 in Khordad, indicating a 1.2% rise compared with the previous month.

The index registered a year-on-year increase of 6.8% compared with the similar month of last year.

Earlier, the Statistical Center of Iran put the inflation rate for Khordad at 9.5%.

This is the first time in about 25 years the inflation is below 10%. Reducing inflation has topped the agenda of the government of President Hassan Rouhani whose efforts are paying off. The president now has a second feather to sport on his hat—the first was the historic deal reached with world powers over Tehran’s nuclear program.