Iran inflation continues to rise sharply
Inflation in Iran continued its upward trend year-on-year amounting to 12.9 percent up to Mehr, the seventh month on the Iranian year (Sept.22 to Oct.21).
CBI’s monthly report listed eggs, chicken, flour, wheat, corn, rooted and leaved vegetables, tomato paste, sugar, sugar beets, cooking oil, benzene, propane, butane, soaps, iron, steel, copper, shoes, rubber and machine-made carpets as the items which cost more, IRNA reported.
Reflecting the growing cost of living, the general price line, measured by the wholesale price index (WPI), went up by 12.9 percent in Mehr compared to the figure for the same month last year and rose by 15.8 percent in the month to 241.8 points compared to the sixth month of the year.
Government has been trying to follow deflationary policies, including raising taxes, issuing participation bonds, and revising banking policies.