Economy, Domestic Economy

CBI Puts Inflation at 8.8%

CBI Puts Inflation  at 8.8%CBI Puts Inflation  at 8.8%

The average goods and services Consumer Price Index for urban areas in the 12 months ending September 21, which marks the end of the Iranian month of Sharivar, reached 8.8% 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 Mordad, which ended August 21, at 8.9%.  The overall CPI (using 2011 as the base year) stood at 247.1 in Shahrivar, indicating a 0.7% growth compared with the previous month. The index registered a year-on-year increase of 9.5% compared with the similar month of last year. The CBI report came after the Statistical Center of Iran put Shahrivar inflation at 8.3%. The SCI’s inflation rate for the preceding month was 8.7%.  According to the SCI report, the CPI for the sixth month of the Persian calendar showed a 0.2% increase compared with the previous month and a year-on-year increase of 6.7%.