Annual inflation rate in Iran drops 0.6 percent reaching 32.5 percent this month

(MENAFN) Iran's annual inflation rate for the calendar month ending in late December declined to 32.5 percent, representing a 0.6 percentage point drop compared to the previous month, the Statistical Center of Iran (SCI) reported on Sunday. This marks a continued easing of inflationary pressures in the country, although price levels remain elevated. The Consumer Price Index (CPI) for households during the reviewed month reached 285.1, which reflects a 2 percent rise from the previous month and a significant 31.4 percent increase compared to the same month last year.

The inflation rate over the 12-month period ending December 20 stood at 32.5 percent, signaling gradual moderation in price growth. Notably, the month-on-month inflation rate for the reviewed period showed a reduction of 1.1 percentage points from the prior month, further suggesting a slowdown in the pace of inflation. These trends indicate some improvement in Iran’s inflationary landscape amid ongoing economic challenges.

In a related report, the Central Bank of Iran (CBI) highlighted that inflation in the country had reached its lowest level since 2020, a period when prices began surging due to US sanctions and the economic disruptions caused by the coronavirus pandemic. The recent decline is seen as a positive development after years of persistently high inflation.

According to CBI data released last week, the annual inflation rate had dropped to 37.3 percent for the calendar month ending November 20. These figures reinforce the trend of a gradual slowdown in price increases, offering a glimmer of hope for the Iranian economy as it continues to grapple with external pressures and internal economic challenges.

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