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Iran’s annual inflation rate up 1.1% to 44% in November: SCI

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Iran’s Inflation rose 1.1% month-on-month to reach 44% in the year to late November, SCI figures show.

The inflation rate rose in Iran by 1.1% in the month to late November to reach an annual figure of 44%, according to figures by the Statistical Center of Iran (SCI).

SCI data published on Tuesday showed that the consumer prices index (CPI) in Iran had risen to 43.3% and 47.4% for urban and rural households respectively in the year to November 21 compared to the same previous period.

The SCI reported a month-on-month inflation rate decline in Iran of 0.9% while its calculation of the CPI on a point to point scale, which compares two same months in back-to-back years, showed inflation had risen to 48.1% in the calendar month to late November compared to the same month in 2021.

Iran has experienced high but controlled levels of inflation in recent years mainly because of the economic impacts of US sanctions on the country and a continuous spread of the coronavirus pandemic.

Iran’s annual CPI dropped to levels around 40% in April but it started to rise again after the government removed subsidies earmarked to imports of grains and basic goods. Experts say prices in Iran have also soared because of international supply and demand issues.

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