On Saturday, August 3, the Statistical Center of Iran reported that the average inflation rate for urban households in July reached 14.1%, indicating a decrease of 0.1% compared to the previous month of Khordad. According to the report from the Statistical Center of Iran's website, point-to-point inflation also decreased from 14.2% in Khordad to 12.8% in July, reflecting a reduction of 1.4%. The decrease in point-to-point inflation in July comes after an increase of 0.5% in Khordad compared to Ordibehesht. The Statistical Center of Iran reported the average inflation rate for Khordad as 14.2%, while the Central Bank of Iran announced it as 15.6%. Comparing the inflation rate reported by the Statistical Center of Iran in July this year with the same period last year shows a decrease of about 10% over the year. Iran faced severe inflation and negative economic growth during the last two years of Mahmoud Ahmadinejad's presidency. World Bank statistics also indicate that Iran's inflation rate in 2013 was the highest in the world after Venezuela. However, since the inauguration of Hassan Rouhani's government, the inflation rate has gradually decreased from around 35%. According to the report from the Statistical Center of Iran, the monthly inflation rate in July remained unchanged compared to Khordad at 1.2%. This is while the monthly inflation rate in Ordibehesht was 0.5%. If this monthly inflation rate continues until the end of the year, an annual inflation rate above 12% will result for the Iranian economy. A detailed examination of the report from the Statistical Center of Iran shows that the average inflation rate for the 'food, beverages, and tobacco' group in July reached 10.7%, which is lower than the average inflation rate, but has increased by 0.4% compared to Khordad. However, the inflation rate in July for the 'non-food goods and services' group is 15.6%, which shows a decrease of 0.4% compared to Khordad. In the same context, the unemployment rate for the year 1393 was announced as 10.6%, and the liquidity volume in Iran exceeded '800 trillion tomans'.
Inflation for Urban Households Reached 14.1% in July
The Statistical Center of Iran reported a decrease in inflation rates for urban households in July, with average inflation at 14.1% and point-to-point inflation at 12.8%. This marks a significant reduction compared to previous months and indicates a trend of decreasing inflation since the Rouhani administration, which is crucial for economic stability in Iran.
👥 Key Players
📰 What Happened
In July, the average inflation rate for urban households in Iran decreased to 14.1%, with point-to-point inflation at 12.8%. This marks a continued trend of decreasing inflation rates compared to previous months.
- Inflation rate decreased by 0.1% from the previous month.
- The inflation rate has decreased by about 10% compared to the same period last year.
💡 Why It Matters
📚 Background
Iran has faced significant economic challenges, including high inflation and negative growth in recent years, particularly during the Ahmadinejad presidency. The Rouhani administration aimed to stabilize the economy.
🏷️ Entities Mentioned
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