(MENAFN) The Central Bank of Iran (CBI) has disclosed a significant decrease in the growth rates of the monetary base and money supply in the previous Iranian calendar year, which ended on March 19, according to a report by a news agency.
CBI data indicates that the growth rate of the monetary base dropped from 45 percent at the beginning of the year to 28.1 percent by the year's end, marking a decline of 16.9 percent. Similarly, the growth rate of the money supply decreased to 17.5 percent by the year's end. Liquidity growth also experienced a decline, decreasing from 31.1 percent to 24.3 percent throughout the year.
In April, CBI announced a decrease in the point-to-point Producer Price Index (PPI), a measure of wholesale inflation, which fell from 40.7 in March 2023 to 24.5 in late March 2024. Additionally, the Consumer Price Index (CPI), reflecting inflation based on consumer prices, decreased by 4.8 percent from 37.3 in March 2023 to 32.6 in March 2024.
In February, the Statistical Center of Iran (SCI) reported an average inflation rate of 42.5 percent for the twelve months ending on January 20, a decrease of 1.1 percent compared to the previous year. The point-to-point inflation rate for the tenth Iranian calendar month was recorded at 35.8 percent, indicating a significant increase in the cost of commodities and services compared to the same month in the preceding year.
Looking at previous years, the average inflation rate for the twelve-month period ending on March 20, 2023, was reported at 45.8 percent by the Statistical Center of Iran. In comparison, the inflation rate for the twelve-month period ending on March 20, 2022, was 40.2 percent, and for the Iranian calendar year 1399, it stood at 36.4 percent.
Furthermore, in a mid-July 2023 economic outlook report, the International Monetary Fund (IMF) projected a decrease in Iran's inflation rate from 49 percent in 2022 to 30 percent in 2024.
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