The best of the worst: Iran's inflation stands at 25.3%
The Central Bank of Iran 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.
The consumer goods and services index hit 196.8, a 1.4 percent rise compared to last month, ISNA reported on July 28.
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.
In March, Iranian Finance and Economic Affairs Minister Ali Tayyebnia said the country's inflation would fall below 15 percent in Iranian calendar year 1393 (March 2014-March 2015).
- Frozen: Arab Spring economies barely trading with one another
- China-Pakistan economic corridor: a game-changer for the Middle East?
- Suspended tax transfers pushed Palestinian economy to the brink
- Egypt passed the economic conference with flying colours, but what's next?
- Why the GCC really needs a VAT tax