CBI: Inflation Dips Below 10%

Inflation in Iran has landed in single digit territory again after it went above 10% in June. According to the latest report released by the Central Bank of Iran, the average goods and services Consumer Price Index for urban areas in the 12 months ending September 22, which marks the end of the Iranian month of Shahrivar, increased by 9.9% compared with last year’s corresponding period. CBI had put the inflation rate for the preceding month (Mordad), which ended on August 22, at 10%. The overall CPI (using the Iranian year to March 2017 as the base year) stood at 108 in Sharivar, indicating a 0.3% increase compared with the previous month. The index registered a year-on-year increase of 8.4% compared with the similar month of last year. The CBI report came after the Statistical Center of Iran put urban inflation at 7.8% in Shahrivar. Inflation in Iran went below 10% for the first time after about a quarter century in June 2016.