Saturday, October 20, 2012

Inflation at 24% - CBI

The Central Bank of Iran (CBI) reported the inflation rate for the twelve-month period ending in Sharivar 1391 (23 September 2012) was at 24 percent.  


Anonymous said...

See, inflation isn't measure by the value of foreign educations or Iphones (things you need black market dollars for). It's measured as the price of a BASKET of goods, most of which are either Iranian made or are items that you can purchase at the subsidized 1200 tomans/$ exchange rate.

Unknown said...

@anon 2:08

I suggest you read the scientific article referenced below and published by the "Iranian Statistical Research and Training Center" in 2007. I would suspect that given that inflation and subsidy reduction is more acute now than in 2007, that many ordinary and poorer Iranians would be feeling the pinch even more.

The only silverlining is that Obesity is not likely to be an issue for poor Iranians so long as this regime is in charge.

"Evaluation the effect of food subsidy reduction on Iranian household calorie intake: VAR application"

Anonymous said...

how is that at all responsive to the post?

What you people don't understand is that you can't measure an economy by looking at one tiny part of it.

Anonymous said...

Anon 2:08 ---and the price in rials of food has risen.

ISNA reported in late July that there were protests over the higher prices.

Nader Uskowi said...

Anon 2:08 PM,

The government had divided the imported goods into three categories: the first group involves imports of drugs and some categories of food, the second group involves raw materials and goods for use in manufacturing inside Iran, the third group are all the imported consumer goods and some food products.

The government provides the “official” rate of 12,620 rials to the dollar to the importers of the first category products. The importers of the second category products need to get their foreign currency from the newly established government trading center, the rate there is now28,500 rials to the dollar. And the third category importers need to get their currency at the free market, where the rate was 36,000 rials to the dollar on Saturday.

Now, please note the second and third categories at 28,500 and 36,000 rates comprise the great majority of all imports into Iran. (Not just iPhones< as you claim!)

The country has a serious currency problem that needs to be addressed as seriously. I certainly hope the officials do not follow your wishful thinking that there is no serious problem!