Iran’s headline inflation down 0.6% to 34.2% in September
Figures by the Iranian government’s official statistics agency show that the country’s headline inflation rate dropped slightly in September.
The Statistical Center of Iran (SCI) said on Monday that the consumer price index in the country had reached 264.7 in the calendar month to September 21, down 34.2% from the same month in 2023.
Annual inflation had been at 34.8% in the calendar month to late August, according to the SCI.
It said month-on-month inflation had increased by 1.7% in September, adding that prices of food, beverages and smoking products had increased by 0.9% while prices of non-food products and services had risen by 2.1% compared to August.
The SCI said that inflation measured on a point-to-point scale, which compares the price index in two similar months in back-to-back years, had increased by 31.2% in September this year.
A new Iranian administration, which came to office in August, has introduced policies to control inflation and stabilize the market as the country is still grappling with the economic impacts of US sanctions and changes in global supply and demand.
Iran’s annual inflation rose to nearly 49.1% in May last year, just shy of an all-time record reported some three decades ago.
Economic experts say lower inflation rates in Iran in recent months has been a result of better government controls on imports and distribution of basic goods supplies, including animal feed and grains.
They say tighter monetary rules have also allowed the Iranian government to have a better control on the money supply and inflation in the country.
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