TEHRAN - The Statistical Center of Iran (SCI) has put the country’s point-to-point inflation rate at 32.2 percent in the fourth Iranian calendar month Tir (ended on July 21).

It means that the Iranian families have paid an average of 32.2 percent more for purchasing the same package of commodities and services in that month, compared to the same month in the preceding year.

The point-to-point inflation rate rose 0.3 percent in the fourth month from the previous month.

In mid-June, the SCI announced that Iran’s economy grew by 5.7 percent in the past Iranian calendar year (ended on March 19), marking the highest growth since 2017.

In its latest report, the SCI said the growth of the gross domestic product (GDP) for the year ending in March 2024 at the constant prices of 2017 is equivalent to 5.7 percent of the total GDP and 3.4 percent of the GDP minus oil.

The field of activities of industries and mines group grew by 6.9 percent, the services group by 5.7 percent, and the agriculture group by 2.2 percent compared to the previous year.

In late February, the International Monetary Fund (IMF) reported the Iranian economic growth in 2023 to be 5.4 percent.

The head of Iran’s Plan and Budget Organization (PBO) said the country’s 5.4 percent economic growth in 2023 was the second-highest rate in the world.

MA