SCI has put the country’s point-to-point inflation rate at 46.9 percent in the mentioned month; it means that the families have paid an average of 46.9 percent more for purchasing the same package of commodities and services compared to the same month of its previous year.

The point-to-point inflation rate was 2.6 percent less than the figure for the previous month.

At the same time, the point-to-point inflation rate for urban households was reported to be 46.1 percent, which is 2.7 percent less than the figure for the previous month.

Back in April, SCI had put the inflation rate at 36.7 percent in the urban areas of Tehran province in the last month of the past Iranian calendar year (ended on March 20). The center put the figure at 35.8 percent in the rural regions of the province.

The SCI announced that the inflation rate has risen 0.6 percent in the country’s urban areas in the last month of the past year.

The center has announced that the inflation rate in the twelve-month period ended on March 20, which marks the end of the last month of the past Iranian calendar year, stood at 36.4 percent, rising 2.2 percent from the figure for the twelve-month period ended on the last day of the eleventh month of that year.

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As reported, the average goods and services Consumer Price Index (CPI) stood at 173.3 in urban areas and at 193.3 in the rural regions in Khordad, indicating 0.8 percent and 0.7 percent increase, respectively, compared to the previous month.

In the Iranian calendar year 1395 (ended on March 20, 2017), Iran could manage to experience a single-digit inflation rate after 26 years.

The inflation rate stood at 9.8 percent in that year according to the Statistical Center of Iran and at nine percent according to the Central Bank of Iran (CBI).

But since the last year’s calendar month of Khordad (ended on June 22, 2018), when the inflation rate stood at 10.2 percent, as announced by the CBI, the country’s experiencing double-digit inflation rates again.

In early May, Central Bank of Iran (CBI) Governor Abdolnaser Hemmati outlined CBI plans for neutralizing or relieving the impact of U.S. sanctions on the country’s economy.

In an Instagram post, the official pointed out some of the approaches that CBI was going to follow in order to counter the U.S. sanctions and to control inflation.

Maintaining and strengthening the relative stability of the foreign exchange market by strengthening and improvement of the performance of domestic Forex Management Integrated System (locally known as NIMA), setting foreign currency exchange policies to support non-oil and oil exports and providing liquidity and working capital to maintain and boost domestic production and finally establishing a financial mechanism with neighboring countries were some of the plans which CBI head said is going to execute.

Explaining CBI plans for managing inflation, the official noted that previous monetary policies regarding the controls over cash flow would be modified using the new structure of monetary policy and consequently uncertainty over controlling the cash demand was going to decrease.

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