Latest News:  

English>>Business

Iran's inflation rate to reach 31.5 pct by March 20: central bank

(Xinhua)

08:41, February 27, 2013

TEHRAN, Feb. 26 (Xinhua) -- The Central Bank of Iran announced that the inflation rate in the final month of the current Iranian current calendar year, ending on March 20, will hit 31.5 percent, Tehran Times reported Tuesday.

The inflation rate had been projected to reach 32 percent, but measures were taken to curb the rate 0.5 percent lower, Iran's Central Bank governor Mahmoud Bahmani was quoted as saying.

Unofficial figures put Iran's inflation rate much higher than the central bank's announcements.

In the past months, the prices of non-subsidized commodities, including industrial and electronic equipment, automobile, food, property and social services, increased by even over 100 percent in comparison to the same indices last year.

In December 2012, Iranian Economy Minister Seyed Shamseddin Hosseini said the Iranian administration had special plans to curb a probable surge in inflation during the final months of the current Iranian calendar year, according to Tehran Times.

According to the minister, the recent rises in goods prices are in close relation with the depreciation of local currency against foreign currencies, which is mainly due to the Western sanctions on Iran's energy and financial sector.

Iran and the West are locked in a bitter dispute over its nuclear activities, with the latter accusing Tehran of developing nuclear weapons under a civilian cover, a charge Iran has consistently denied.

We recommend:

Keeping the brand full of beans

Companies struggle to find, keep workers

Shares crumble as result of housing curbs

Liquor makers fined 449m yuan for price monopoly

Tougher fuel standards take form

Movie-themed fortunes 'never guaranteed'

Email|Print|Comments(Editor:HuangBeibei、Liang Jun)

Related Reading

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Seaplanes of North Sea Fleet in training

  2. Highlights of 'Xuzhou' guided missile frigate

  3. The world in photos (2013.02.17-02.23)

  4. Chilly run gets blood pumping

  5. China's weekly story (2013.2.16-2.22)

  6. 'Chinese style' during Spring Festival

  7. One Hundred Years of Oscar

  8. Review Spring Festival celebrations

  9. IKEA stops selling meatballs for horsemeat

  10. Output growth hits 4-month low, says HSBC

Most Popular

Opinions

  1. Peaceful development important in cross-Straits ties
  2. "China threat" theory still exists despite Nexen deal
  3. Cross-Straits relations 'will be boosted'
  4. China 'firmly supports' BRICS
  5. Water quality a concern
  6. Kerry aims high in maiden foreign trip
  7. Open communication for Peninsula peace
  8. Spring Festival offers window into China
  9. Fatter red envelopes miss point of tradition
  10. Opportunities amid challenges

What’s happening in China

China's 'leftover women' phenomenon arouses heated debate in West

  1. Man in HIV nightmare after one-night stand
  2. AIDS patients get help in Anhui
  3. Excessive rural school mergers halted
  4. System to reduce dropouts, school closures
  5. China's rural poor population declines