TEHRAN– The Central Bank of Iran (CBI) announced that the inflation rate for the 12-month period ended on the last day of the eight Iranian calendar month of Aban (November 21) hit 14.8 percent.

The inflation rate for the 12-month period ended on the last day of the seventh Iranian calendar month of Mehr (October 22) was 13.3 percent, IRNA reported on Thursday.

That was while the Statistical Center of Iran had put the Aban inflation rate at 13.1 percent. 

Curbing inflation was one of the major promises by President Hassan Rouhani during his presidential campaign. Under the previous administration, inflation skyrocketed to cross 44 percent.   

The CBI aims to lower inflation to single digits by 2017 and spur economic expansion as a landmark nuclear deal with world powers rolls back global sanctions, Bloomberg reported on July 14 quoting Peyman Qorbani, the vice governor for economic affairs at the CBI.  

SJ