TEHRAN – The inflation rate in Iran will drop to a single-digit rate in Iranian calendar year 1395 (March 2016-March 2017), said Akbar Komijani, the deputy governor of the Central Bank of Iran

The inflation rate is estimated to be 13-14 percent in the current year, he said, adding that one of the main policies of the administration is to curb the inflation rate.

Management and Planning Organization’s Director Mohammad Baqer Nobakht has announced that the inflation rate for the 12-month period ended the second Iranian calendar month of Ordibehesht (April 21-May 21) hit 14.3 percent, falling from 14.5 percent in the previous month.  

In July 2014, Finance and Economic Affairs Minister Ali Tayyebnia said the Iranian government will implement anti-recession programs until a single-digit inflation rate is achieved.  

The administration has prepared a comprehensive plan to combat high inflation and bring the national economy out of recession, he added.