Iran’s annual inflation falls 1% to 44.4% in November: SCI
Iran’s annual consumer price inflation slipped one percentage point in November to 44.4% while the month-on-month CPI figure dropped to 2.5% from 3.7%, according to latest figures by the Statistical Center of Iran (SCI).
The SCI said on Monday that urban inflation rate in November had decreased 1.1% to 43.6% while the rural rate had also dropped 1.3% to 48.3%.
Iran has seen high but controlled levels of inflation in recent three years as the country has been grappling with economic impacts of American sanctions as well as restrictions on business and manufacturing activity because of the spread of the coronavirus.
An administrative government that came to office in early August has vowed it will contain inflation through tightening monetary policies and relying more on the domestic economic and manufacturing activity.
SCI figures showed that the fall in annual inflation rate reported at the end of November was larger than a 0.4%-drop reported for the year to October.
The figures showed that month-on-month consumer price index for food and beverage had increased 3.1% in November, down from a surge reported in October. Month-on-month inflation rate rose 2.1% for non-food and services in the same month, according to the data.
The Iranian statistics agency normally updates the CPI measured on a point-to-point scale which reflects changes in prices once compared between two similar months in two consecutive years.
Teh agnecy figures showed that Iran’s point-to-point inflation rate had reached 35.7% in November, meaning that households had spent 35.7% more on goods and services compared to November 2020.
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