Updated : 3 Day , 7 Hour , 16 Minutes ago
Publishe Date: 4:09 PM - 1/26/2015 | Print

Iran expects annual inflation at 13-14%

Economy - Iran said on Monday it expects its annual inflation to stand between 13 percent and 14 percent for the Persian calendar year that start 21 March 2015.

A senior official at the Central Bank of Iran (CBI) told reporters that the country’s inflation has already receded to levels beyond previous expectations.

“Iran’s inflation has already reached its hard core,” said Akbar Komeijani, the acting governor of CBI.

“It had been standing for a long time between 15 percent and 20 percent … It now requires not only disciplinary policies but also long-term structural reforms,” Komeijani added.

He further described the last month’s drop in Iran’s inflation as “a major achievement”.

“This has now enabled us to talk about the prospects to bring down inflation with a stronger confidence.”

The CBI announced on this past Saturday that Iran’s annual inflation has reached 16.3 percent. It said the figure had been derived from studying price changes over a period of 10 months starting 21 March 2014.

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