Inflation Rate in Iran Reached 10.8 Percent in Farvardin

The average inflation rate, according to a report from the Statistical Center of Iran, reached 10.8 percent in Farvardin this year, maintaining its downward trend. On Wednesday, April 20, the Statistical Center of Iran announced in its report on the Consumer Price Index for urban households that the year-on-year inflation rate in Farvardin decreased by 0.8 percentage points to 7.7 percent. The twelve-month inflation rate ending in Farvardin was also reported as 10.8 percent, down from 11.3 percent in Esfand 1394, indicating a half percentage point decline in Farvardin this year. According to this statistical report, the monthly inflation rate in the first month of the year 95 reached 0.4 percent. The monthly inflation rate for the major group of 'food, beverages, and tobacco' reached 0.8 percent. Additionally, the index for the major group of 'food, beverages, and tobacco' showed a 5.3 percent increase compared to the same month last year, with a percentage change for this group in the year ending in Farvardin 95 of 9.3 percent. Comparing the twelve-month inflation rate, the growth rate of the price index for this group in the twelve months ending in Esfand last year was 9.7 percent, which has decreased by 0.4 percentage points. The index for the major group of 'non-food goods and services' increased by 0.3 percent in the first month of this year compared to the previous month. This report specifies that the index for the major group of 'non-food goods and services' compared to the same month last year, referred to as the point-to-point inflation rate, was 8.7 percent. The twelve-month inflation rate ending in Farvardin 95 for this group was 11.4 percent, which is a decrease of 0.6 percentage points compared to the twelve-month inflation rate ending in Esfand last year (12 percent). The price index for the group 'housing, water, electricity, gas, and other fuels,' which has the highest impact on the inflation rate calculations by the Statistical Center of Iran with a weight of 35.6 percent, experienced a 0.3 percent decrease in Farvardin 95 compared to Esfand last year. The point-to-point inflation rate for this group's price index in the reported month was announced as 10 percent. The average inflation rate for this group, which reflects the changes in the price index for this group in the twelve months ending in Farvardin this year, reached 13.9 percent. Despite controlling the rising inflation trend during the eleventh government and reducing it from above 40 percent to less than 11 percent over the past two years, the policies of Hassan Rouhani and his economic team have not been very successful in reviving and growing the Iranian economy. However, the government has managed to raise the negative growth rates of 6.8 percent in 1391 and negative 1.9 percent in 1392 to a positive 0.7 percent or about one percent in the last nine months, but this change has not been sufficient to restore prosperity to the Iranian economy.