February 22, 2023 19:03

Iran Inflation Scales New Heights

This is the ninth consecutive month the annualized inflation is rising after the government put into effect what it touted as “economic surgery” by abolishing the heavily subsidized import of essential goods

New data released by the Statistical Center of Iran show the annualized inflation reported on a monthly basis has scaled new heights.
The average annualized inflation in the 11th month of the current Iranian year (Jan. 21-Feb. 19) stood at 47.7%, SCI said in a new report released on Tuesday.
Only in the fiscal 1995-96 and 1996-97 did the country experience inflation rates above the current level.
This is the ninth consecutive month the annualized inflation is rising after the government put into effect what it touted as “economic surgery” by abolishing the heavily subsidized import of essential goods.

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Rate of Inflation in Iran