Iran’s inflation rate drops to 37 percent, lowest since 2021
Date
5/26/2024 9:28:55 AM
(MENAFN) The most recent official economic data released by the government unveils a notable development in Iran's economic landscape, with the annual inflation rate reaching 37 percent, marking the lowest rate observed in the past three years. This information, sourced from the Statistical Center of Iran and disclosed on May 23, highlights a significant trend. Specifically, during the period from April 11 to May 11, the annual inflation rate stood at 37 percent, representing the lowest figure recorded since 2021. Moreover, this data indicates a substantial year-on-year decrease of 12.1 points, reflecting a positive trajectory in inflation management efforts.
Furthermore, within the same timeframe of April 11 to May 11, the point-to-point food inflation registered a noteworthy decline, reaching its lowest level in nearly four years, standing at 22.7 percent. These developments are of particular significance given the prevalent economic concerns among the Iranian populace. In response to these concerns, the administration under the leadership of the late President Ebrahim Raisi has placed a strong emphasis on implementing policies geared towards improving the economy and enhancing the purchasing power of citizens since assuming office in August 2021.
In December 2023, the World Bank, in its comprehensive report, lauded the continued economic growth observed in Iran for the fourth consecutive year. This report underscored the success of the Iranian administration's proactive measures in addressing inflationary pressures and fostering stability in the currency market, signaling a positive outlook for the country's economic future.
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