Iran’s annual inflation down 0.9% to 36.1% in June: SCI
Latest figures released by the Statistical Center of Iran (SCI) show that the annual inflation rate in the country dropped again in the calendar month to June 20.
SCI data released on Sunday showed that the consumer price index (CPI) had reached 249.7 in the month to late June, an increase of 36.1% compared to the same figure reported in late June 2023.
However, the rate had declined by 0.9% compared to the same rate reported in the month to late May, a sign the country is emerging from a crisis of high inflation rates that had peaked at 49.1% in May last year.
SCI figures showed that consumer prices had risen by 2.8% on a month-on-month basis in the calendar month to late June with prices of food, beverages and smoking products rising 4.2% while prices of non-food goods and services rising 2.1% over the same period.
The point-to-point inflation measure, which compares prices in two similar months of back-to-back years, topped 31.9% in the month to late June, according to the same figures.
Iran has seen high but controlled levels of inflation in recent years, both because of a relatively short period of decline in its oil exports which began in 2020, a year after the US toughened its unilateral sanctions against the country, and because of changes in the global supply and demand system that has been blamed on the coronavirus pandemic.
Annual inflation rates of below 40% are a respite for many Iranians who have been struggling with sky-rocketing prices in recent years.
Experts say main reasons for lower inflation rates in Iran are tighter fiscal controls by the government and higher oil exports.
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