TEHRAN- The Statistical Center of Iran has announced that the inflation rate for the 12-month period ended in the last day of the second Iranian calendar month of Ordibehesht (May 20) compared to the same period in the previous year hit 10.2 percent.

The inflation rate for the 12-month period ended in the last day of the first Iranian calendar month of Farvardin (April 19) compared to the same period in the previous year was 10.8 percent, according to the Mehr news agency.  

Meanwhile, the center put the point-to-point inflation rate at 6.8 percent in Ordibehesht, falling from 7.7 percent in its previous month.

The Central Bank of Iran (CBI) has announced that the inflation rate in the past Iranian calendar year of 1394, which ended on March 19, 2016, compared to its previous year stood at 11.9 percent.

On February 20, Iranian Finance and Economic Affairs Minister Ali Tayyebnia said that the country’s budget plan for the Iranian calendar year of 1395(which began on March 20) has envisaged an inflation rate of 11.3 percent. 

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%. 

The CBI aims to lower inflation to single digits by 2017.   

MA