Thursday, August 18, 2011

Iran's Official Inflation Rate: 19.6%

Statistics Center of Iran (SCI), the government’s statistics and census organization, reported today that the annual inflation rate in Iran for the period ending in Iranian calendar month of Tir (21 July) hit 19.6 percent [Fars News Agency, 18 August]. On Monday, the Central Bank of Iran had reported that the annual inflation rate had risen to 16.3 percent.

SCI Director General Mousalreza Servati told Fars News that the country’s fifth development plan, the current five-year economic plan, has authorized SCI as the sole authority for official statistics and the Central Bank should not have published its inflation report on Monday. The 19.6 percent rate is then the official rate of inflation in the country.

The inflation rate announced by SCI today is in sharp contrast with the latest IMF economic report on Iran, published earlier this month, that had put the rate at 12.4 percent. The huge difference in inflation rates is expected to undermine the accuracy of the entire IMF report.

SCI also announced that it will soon publish the GDP growth rate for 1389, the latest Iranian calendar year, but said it expected it to be around the same rate as the previous year, 1388. The problem is the government has not yet published 1388 growth rate, but the governor of the Central Bank has previously talked about a 3.5 percent growth rate for that year.


Anonymous said...

What no comments from the "Lets hang them high because they are against us" brigade?
As I said earlier it can only get worse so much for IMF.

David Hannaford said...

The inflation figure would look much better if Iran used the same technique used by the US, Australia and Canada - they exclude fuel costs and adjust food prices. They then speak of the "real" or "underlying" inflation rate and everybody is much happier.
Also, those nations do not compensate users for government-caused fuel price rises, instead they tax them more.

Anonymous said...

Yes we are so lucky to have this type of government in Iran the west should copy our system in fact all westerners should come and live in Iran and experience the modernity of the system.

Anonymous said...

I can tell you that there is NO inflation in Iran and Israel has 20% inflation!

Anonymous said...

last anon

like it or not Israel is no country, but a military phenomenon born 60 years ago, living off hand outs from the US producing only citrus and a couple other things sold for 100 000 dollars per orange to the USA.

Anonymous said...

But 400 million arabs still can not do anything to them.