Inflation on Downtrend

The average goods and services Consumer Price Index stood at 7.9% for urban areas in the 12-month period ending October 21, which marks the end of the Iranian month of Mehr, compared with last year’s corresponding period, according to the Statistical Center of Iran’s latest report. SCI put the preceding month’s inflation rate at 8.3%. The overall consumer price index (using 2011 as the base year) stood at 232.9 in Mehr, indicating a 0.7% increase compared with the previous month and a year-on-year increase of 6.6% compared with last year’s corresponding month.