Iran’s inflation rate declines by 0.5 percent
Date
1/27/2025 2:41:32 AM
(MENAFN) The Statistical Center of Iran (SCI) has reported that the average inflation rate for the twelve-month period ending on January 20, which coincides with the end of the tenth Iranian calendar month, Dey, stands at 32 percent. This represents a decrease of 0.5 percent compared to the inflation rate for the twelve-month period ending the previous month. Additionally, the point-to-point inflation rate for the tenth month is 31.8 percent, meaning that, on average, families spent 31.8 percent more on the same set of goods and services compared to the same month in the previous year.
The SCI noted a slight rise of 0.4 percent in the point-to-point inflation rate in the tenth month compared to the preceding month. In terms of economic growth, the SCI reported a notable 5.7 percent growth in Iran's economy for the year ending on March 19, 2024, marking the highest growth rate since 2017. This includes a 3.4 percent growth in GDP excluding oil, with key sectors such as industries and mines, services, and agriculture showing growth rates of 6.9 percent, 5.7 percent, and 2.2 percent, respectively.
The International Monetary Fund (IMF) in its latest World Economic Outlook has projected that Iran's inflation rate will decline to 31.7 percent in 2024, down from 40.7 percent in 2023. The IMF also raised its growth forecast for Iran's GDP to 3.7 percent for the current year, up from an earlier estimate of 3.3 percent made in July. Furthermore, the IMF anticipates that Iran’s current account balance will slightly increase to 2.9 percent of its GDP this year, compared to 2.8 percent last year.
MENAFN27012025000045015839ID1109131609
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.