50160
Economy Ministry: Q2 Inflation at 8.9%
Economy Ministry: Q2 Inflation at 8.9%

Economy Ministry: Q2 Inflation at 8.9%

Economy Ministry: Q2 Inflation at 8.9%

The Economy Ministry has forecast an 8.7% inflation rate for the Iranian month ending September 21 and 8.9% for the second quarter of the current Iranian year (started June 21).
Iran’s inflation has been steadily declining for the past three years since President Hassan Rouhani took office.
According to the ministry, low global inflation, fiscal and monetary discipline, dissipation of the effects of prior economic shocks (including the 2012-13 currency crisis and subsidy reforms), lower inflationary expectations brought about by political stability and the implementation of the nuclear deal between Iran and the West that ended a decade of sanctions, drop in producer price index, weak property market and low consumer demand are the main reasons for the drop in inflation.
Inflation in the 12 months ending June 20, which marks the end of the Iranian month of Khordad, dropped to 9.7%, the Central Bank of Iran reported. It was the first time inflation fell below the 10% mark in 26 years. The last time was in 1990 when Iran was emerging from the carnage of the Iraq-imposed war.
However, year-on-year inflation, considered by many as the canary in the coal mine for average inflation, has started rising since it bottomed at 6.8% in Khordad.
It has continuously gone up, hitting 9.4% for the month ending August 21, suggesting inflation may climb in the coming months.

 

Short URL : https://goo.gl/qL6hAc
  1. https://goo.gl/kQ9XxU
  • https://goo.gl/H79yiI
  • https://goo.gl/z0oShp
  • https://goo.gl/0rwBh3
  • https://goo.gl/wc2KCw

You can also read ...

Banks will now draft a single set of balance sheets that adhere to CBI’s IFRS-based templates.
Minister of Economic Affairs and Finance Masoud Karbasian and...
Bloom and billet sales made up the lion’s share of KSC’s sales.
Iran’s largest steel exporter Khouzestan Steel Company...
Plan to Make Home Loans More Affordable
The administration of President Hassan Rouhani is mulling new...
Lettuce Exports Earn $10m
More than 42,100 tons of lettuce worth over 334.2 billion...
IKCO in Another Murky Presale
Iran Khodro started presales of its newly unveiled small...
Carmakers Pile Into Europe Scrappage Offers
Renault-Nissan and Kia are the latest car companies to launch...
Mental Health Investment: The Economic Case
The link between mental health and economic productivity is...
Ikarus buses were popular in Iran during 1990s.
Hungarian bus manufacturer Ikarus is set to re-enter Iran...

Trending

Googleplus