The Statistical Center of Iran announced the annual inflation rate for Esfand 94 (March 2016) at 11.3%, showing a decrease of 0.5% compared to Bahman (February). According to this center, the point-to-point inflation, which compares the inflation rate of Esfand 94 with that of Esfand 93, has also reached 8.5%, a decrease of 0.4% from the previous month. The center had reported the inflation rate for Bahman at 11.8% and the point-to-point inflation for that month at 8.9%. Based on reports from the Central Bank and the Statistical Center of Iran, the inflation rate in 94 has maintained its downward trend. Meanwhile, the point-to-point inflation rate fell to single digits for the first time in 65 months (five years and five months) in Azar 94 (December 2015), reaching 9.9%. The last time the point-to-point inflation rate was reported as single-digit and below 10% by the Statistical Center was in Tir 89 (July 2010), when it was reported at 9.7%. The decrease in both point-to-point and annual inflation rates has continued in the months following Azar. Valiollah Seif, the Governor of the Central Bank of Iran, emphasized on Saturday, March 5, 2016, that the bank is determined to continue its policies aimed at achieving a stable single-digit inflation rate. Iran faced severe inflation and negative economic growth during the last two years of Mahmoud Ahmadinejad's presidency. World Bank statistics indicate that Iran's inflation rate in 2013 was the highest in the world after Venezuela. The point-to-point inflation rate in Mordad 92 (August 2013), which marked the beginning of the eleventh government, was recorded at 38.4%. Since Hassan Rouhani's government took office, the inflation rate has gradually decreased. However, economic experts and critics attribute part of this decrease to the prevalence of recession. Following the establishment of Rouhani's government, the increase in economic growth has not been consistent. In 93 (2014), Iran's economic growth reached 3%, but this increase did not continue, and the figure was only 0.7% in the first nine months of the previous year.
New Statistics Center Report; Annual Inflation Rate Decreases in Esfand Compared to Bahman
The Statistical Center of Iran reported a decrease in the annual inflation rate to 11.3% in Esfand 94, down from 11.8% in Bahman. The point-to-point inflation also fell to 8.5%. This trend of decreasing inflation is significant as it reflects the economic policies of the current government amidst previous high inflation rates.
👥 Key Players
📰 What Happened
The Statistical Center of Iran reported a decrease in the annual inflation rate to 11.3% in Esfand 94, down from 11.8% in Bahman. Additionally, point-to-point inflation fell to 8.5%, indicating a continuing trend of decreasing inflation rates.
- Annual inflation decreased by 0.5% from February to March 2016.
- Point-to-point inflation reached single digits for the first time in over five years.
💡 Why It Matters
📚 Background
Iran has faced severe inflation and economic challenges in recent years, particularly during the last years of Ahmadinejad's presidency. The Rouhani administration has aimed to stabilize the economy through various reforms.
🏷️ Entities Mentioned
Translated from the original and edited for English readers. View original source →
Translation confidence: 85%