Central Bank Resumes Inflation Rate Announcement After 21 Months; Criticism Over Lack of Transparency

Iranian economic media have pointed out the latest inflation rates announced by the Central Bank, addressing the discrepancies between these figures and those from the Statistical Center, while also criticizing the lack of transparency in the new report. The Central Bank of Iran resumed the publication of inflation rate statistics on Sunday, December 30. According to the new report from the Central Bank, the annual inflation rate in Azar reached its lowest level in four years; a claim that raised doubts. The new report states that the annual inflation rate in Azar was 36.3 percent, and the point-to-point inflation rate was 33.8 percent. Additionally, the monthly inflation rate in Azar was reported to be 1.7 percent. Reports of protests by market vendors in Tehran against the surge in currency rates and inflation were noted. The newspaper Jahan Sanat highlighted the significant discrepancy between these figures and those provided by the Statistical Center of Iran, stating that the annual inflation rate announced by these two entities differs by 3.8 percent. Furthermore, there is a 2.4 percent difference in the point-to-point inflation rates and a 0.3 percent difference in the monthly inflation rates. The website Eko Iran also noted a 'change in the household basket' in the new report from the Central Bank, stating that while consumer inflation has shown a downward trend, the inflation indicators have taken an upward trajectory with the decrease in price growth. The Central Bank used to report monthly on consumer price indices until Azar 1397, but this publication was abruptly halted. Since then, data from the Central Bank has only been updated twice (in Esfand 1401 and Farvardin 1402). The newspaper Jahan Sanat described the new report from the Central Bank as having 'many deficiencies' and pointed out that statistics such as inflation rates broken down by provinces, deciles, and inflation of goods and services were not included in this report, labeling it as 'half-hearted transparency.' Concurrently with the release of the new report from the Central Bank, the news website Khabar Online quoted economist Ali Ghanbari as saying, 'If the situation continues like this, inflation in the country could exceed 40 percent by the end of the year.'