Azernews.Az

The Iranian Statistical Centre reported that Iran's inflation hit 33.9 per cent in the fourth calendar month of the current solar year (June 22 - July 21).

The country's inflation index stood at 165.2 in the same month, the IRNA News Agency reported.

The inflation index was 2.3 per cent more than its preceding year.

Head of the Parliamentary Research Centre Kazem Jalali said last month that the inflation rate is really alarming and officials should try to find a solution as soon as possible.

Governor of the Central Bank of Iran Mahmoud Bahmani, in turn, that the country would curb inflation through three financial policies.

"By selling bonds and gold coins as well as reducing liquidity, we hope to curb inflation," Bahmani stated.

Iran's average monthly inflation rate was 25.4 per cent during the previous Iranian calendar year which ended on March 20.

In April, the International Monetary Fund reported that Iran's economy contracted by 1.9 per cent in 2012 and is expected to shrink by 1.3 per cent this year.

However, the economy of the Islamic Republic is forecast to grow next year by 1.1 per cent, the IMF said in its annual World Economic Outlook.