Monday, April 1, 2013

Inflation in Iran Pushed Above 30%

Iran's inflation rate has climbed above 30 percent, the government’s Statistics Center reported today. The annual rate reached 31.5 percent for the Iranian calendar year of 1391, which ended 20 March. (Mehr News Agency, 1 April)

Iran has suffered double-digit inflation for most of the past decade. Inflation began rising sharply at the end of 2010 when the government slashed food and fuel subsidies and under the pressure from sanctions, the value of national currency dropped sharply.

The Statistics Center does not include imported goods in its basket for measuring inflation rate. Iran’s real inflation rate could be roughly twice as high if the prices of imported goods are included.

Meanwhile, in the foreign currency open markets, the dollar was traded for 35,000 rials on Monday. In the first three months of 2013, the exchange rate has moved between 34,000 to 40,000 rials for a dollar, with the latter rate being a historic low.  


Mark Pyruz said...

That inflation figure is actually lower than Britain experienced between 1938 and 1943, when it too found itself on the receiving end of an economic war. But the major differences are Iran hasn't resorted to rationing nor has it suspended national elections.

Nader Uskowi said...

Everything, even inflation higher than 30 percent, looks so normal to you. If the Iranian leaders were thinking the same way as you do, they wouldn’t have taken any measures to correct the host of problems facing the country, as they would have thought they were no problems, and in the process they would have ruined the economy holding the illusion that they were following Churchill. I am glad you are not a senior advisor to the government.

Anonymous said...

Britain during the war years was run by patriots.Iran of today is run by criminals.

mat said...

New figures show that poverty is on the rise in the US, as the number of people receiving food stamps has soared to a record high of almost 50 million Americans.

The number of Americans who are enrolled in the Supplemental Nutrition Assistance Program (SNAP) has increased by 70 percent since 2008 to 47.8 million as of December 2012, according to recently-published figures by the Wall Street Journal.

SEE MORE ON: Record high of nearly 50 million Americans on food stamps

*Hopefully, on-topic! I guess