Rising Prices

The Central Bank of Iran (CBI) announced on Thursday that the inflation rate for the twelve-month period ending 21 October 2010 was at 9.2 percent. CBI’s official monthly inflation reports show a steady rise in prices in recent months after the drop in inflation rate in the earlier parts of the year. The rise in prices is thought to be linked to the recent announcements that the gradual removal of government subsidies of the essential goods and services will begin by mid-November.

The annualized inflation rates for the twelve-month periods at the end of each Iranian calendar month are as follow:

• 21 Oct: 9.2%
• 21 Sep: 8.9%
• 21 Aug: 8.8%
• 21 Jul: 9.1%
• 21 Jun: 9.4%
• 21 May: 9.9%

No independent confirmations of CBI numbers were available.