Statistical Center: Inflation in Iran Decreased to 6.9% in December

The Statistical Center of Iran announced that inflation in December decreased by three-tenths of a percent compared to the previous month, reaching six point nine percent. According to the report published on the center's website, point-to-point inflation also decreased by six-tenths of a percent, reaching six point four percent. The Statistical Center had reported the average inflation rate for November at seven point two percent, a decrease of three-tenths of a percentage point compared to the previous month. However, the Central Bank stated that inflation in November was eight point six percent, showing no change from October. Thus, in the Central Bank's statistics for November, the average inflation was one point one percent and point-to-point inflation was three point five percent higher than the figures reported by the Statistical Center. Nevertheless, both centers emphasized the increase in monthly inflation rates in November. The monthly inflation rate in November, according to the Central Bank report, reached one point four percent, the highest monthly inflation rate in the past year and a half. An increase in monthly inflation rates above one percent not only indicates rising prices over a month but could also challenge the maintenance of single-digit average inflation rates. In the Statistical Center's account of November's inflation rate, the monthly inflation rate showed an increase of eight-tenths of a percent compared to the previous month's rate, indicating a one-tenth percentage point increase. Ali Tayebnia, the Minister of Economy in Hassan Rouhani's government, recently emphasized that inflation has reached its core level, making it more challenging to reduce inflation rates going forward. The International Monetary Fund, in its latest report, predicted that the average inflation rate at the end of this year would be nine percent, which, although a single-digit inflation rate, is very close to double-digit inflation. The decrease in the inflation rate does not mean that the prices of consumer goods and services are becoming cheaper, but rather indicates a slowdown in the acceleration of the general price level. Mohammad Baqer Nobakht, the government spokesman, previously described reports about the decrease in inflation in Iran as 'very hopeful' and considered the reduction in inflation as a sign of the 'right path' for the country. However, some members of parliament criticized Hassan Rouhani's government, stating that these statistics are only on paper and do not reflect the real situation in people's lives. Some critics of the government also believe that one of the factors for the decrease in the inflation rate is the deepening recession and the decline in people's purchasing power.