TEHRAN- The inflation rate for the 12-month period ended in the last day of the fourth Iranian calendar month of Tir (July 22) compared to the same period in the previous year hit 7.6 percent, Government Spokesman Mohammad Baqer Nobakht said on Tuesday.

He said the figure shows 0.2 percent rise from 7.4 percent in the third calendar month of Khordad, Fars news agency reported.

The official also put the point-to-point inflation rate at 8.9 percent in Tir, falling 0.5 percent from 9.4 percent in Khordad.

The Statistical Center of Iran has put the country’s inflation rate at 9.8 percent in the past Iranian calendar year 1395 (ended on March 20), showing 4.5 percent drop from its preceding year.

It is while the Central Bank of Iran (CBI) has put the country’s inflation rate at nine percent during the past calendar year.

Iran, accordingly, could manage to experience a single-digit inflation rate after 26 years in 1395.

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

MA/MG