Iran records lowest monthly inflation rate in 16 months
Figures by the Statistical Center of Iran (CBI) show that the country’s monthly inflation rate in July was the lowest in the last 16 months.
According to a Tuesday report, the latest CBI figures showed that the month-on-month inflation rate in Iran had dropped to 1.95% in the calendar month to July 22.
The consumer price index (CPI) reached 193 in the same period.
Point-to-point inflation dropped by 3.2% and reached 39.4% in July, the data showed.
As in many countries around the world, Iran has been experiencing high levels of inflation in recent years due to various factors including the US sanctions targeting its oil exports.
Iranian authorities argue that the rising global inflation is also to blame for the rise in Iranian consumer prices in recent months.