President says Iran’s inflation rate below 25pct
Iranian President Hassan Rouhani says the country's inflation rate has dropped below 25 percent.
He said he had promised that the inflation rate would fall to 25 percent in the current year, but the current inflation rate is already below 25 percent, Iran's IRNA news agency reported on August 8.
He added that he will announce the new inflation rate next week, further noting that the economy will not contract in the current year.
When Rouhani took office in August last year, the Central Bank of Iran (CBI) had put the inflation rate at 45 percent.
The CBI has announced that the inflation rate for the 12-month period that ended on the last day of the Iranian calendar month of Tir (July 22) was 25.3 percent, a 2.4 percent decrease compared to the previous month, ISNA reported on July 28.
The consumer goods and services index hit 196.8, a 1.4 percent rise compared to last month.
On May 28, Iranian government spokesman Mohammad-Baqer Nobakht said the government has no plans to increase the price of consumer goods, adding that the policy of curbing the inflation rate is being pursued.
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