Inflation rate in Iran’s urban areas drops 1.9%: report

TEHRAN – The inflation rate in Iran’s urban areas fell 1.9 percent in the 12-month period, ending the first Iranian calendar month of Farvardin (March 21-April 20), the Statistical Center of Iran reported on Monday.
The inflation rate hit 30.2 percent in the mentioned period, compared to the same period in the preceding year, according to IRNA news agency.
Meanwhile, the Central Bank of Iran reported on April 8 that the country’s inflation rate dropped 5.7 percent during the second half of the previous Iranian calendar year, which ended on March 20.
The CBI put the inflation rate for the 12-month period ended the last Iranian calendar month of Esfand at 34.7 percent, a 5.7 percent fall compared to the figure corresponding to the sixth calendar month of Mehr (ended on October 22, 2013).
Iranian Finance and Economic Affairs Minister Ali Tayyebnia has said the country’s inflation will fall below 15 percent in the current Iranian calendar year, which began on March 21.
If we succeed in continuing the current trend [of economic progress], the inflation rate will certainly reach below 15 percent, he added.
In November 2013, Iranian President Hassan Rouhani said his government plans to decrease the inflation rate to below 25 percent by the end of the current Iranian calendar year 1393 (March 20, 2015).
“First, the administration plans to curb the inflation rate and reform the banking system, and then change the method of (cash) subsidy payments,” he added.

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