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Two-digit inflation expected in Iran amid growing unrest

Inflation rate to increase in Iran

An Iranian parliamentary research center has forecast that the country’s inflation rate in next fiscal year (to start March 20, 2018) will become 11.5 percent, AzerNews reported Monday.

The Iranian Parliament Research Center also estimated that the inflation rate for the current fiscal year (started March 2017) will be 10.5 percent.

According to the research center, the inflation is estimated to hit 14.3 percent in next fiscal year, if the government increases energy carrier prices.

Iran’s inflation rate had climbed above 30 percent, before Iranian President Hassan Rouhani came to power in mid-2013. Nonetheless, for the first time over the past 26 years, that figure declined into a single-digit row, bottoming out at 8.6 percent in June 2016. Despite that fact, according to the country’s Central Bank report for the 12-month period ending on Dec 22, 2017, inflation rate peaked at 10 percent.

Inflation, unemployment and high prices were the reasons that ignited protests in Iran since December 28. 

Last Modified: Monday، 15 January 2018 02:01 PM