The Two-Digit Inflation Rate in Iran

NCRI - The Central Bank of Iran announced the inflation rate at 10.3% in June 2017; a two-digit increase in the index. The Government's Spokesman, Mohammad Bagher Nobakht had earlier quoted the Statistical Center of Iran that the inflation rate reached 7.6% in June. The figures presented by two economic centers on the inflation rate of this month vary by 2.7%.

According to the state-run IRNA News, the Central Bank of Iran announced on Thursday, July 27 that the inflation rate reached 10.3% with an increase of 0.6%. According to this figure, the inflation rate has become two-digit after a year.

Mohammad Bagher Nobakht on Tuesday, July 25 claimed that the inflation rate has reached 7.6% in July 2017 with an increase of 0.2% in comparison to June 2017, according to the figures presented by the Statistical Center of Iran.

On the other hand, the state-run Mehr News quoted the Statistical Centre of Iran, reporting that the inflation rate became 9% in July 2017.Earlier, some experts and the International Monetary Fund had also discussed the return of high inflation rate to over 10% by this year.

However, Hassan Rouhani and his government claim that the inflation has decreased from more than 40% to below 10 % in March last year during the first four years of his presidency. The Central Bank of Iran has reported that the average inflation rate became 9% at the end of last year while the Statistical Center of Iran announced that this amount reached 6.8%. Nevertheless, some MPs slam Rouhani's measures saying that these figures are written only on a paper and they do not represent the real status of people's lives in Iran.

Many also claim that the deep recession and the decline in purchasing power are the main factors influencing the inflation rate.

Meanwhile, according to the experts, the inflation in Iran is still high despite being a single-digit, compared to similar countries.