Annual inflation rate stands at 8.7%

TEHRAN, Aug. 23 (MNA) – Cabinet spokesperson said annual inflation by the fifth Iranian month (ended August 21) stood at 8.7 percent indicating a 0.3-percent decrease as compared with the earlier month.

Vice President and Head of Plan and Budget Organization Mohammad Bagher Nobakht said the monthly rate of inflation in the fifth month of current Iranian calendar year (spanning Jul. 22-Aug. 21) was calculated at 1.4 per cent while the figure was 1.6 for one month earlier.

The official also said the point-to-point inflation rate in the previous Iranian month stood at 7.4 per cent while figure for the preceding month was 6.5 per cent.

Nobakht pointed to the government’s determination to tackle inflation in order to lower the price of goods and commodities.

He stressed that there should be a balance in macroeconomic indicators adding “Iran's government is making efforts to prevent phenomenon of high prices and the decline in inflation rate is a reflection of measures taken to preserve purchasing power of the people.”

HA/IRN82197747

News Code 119167

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