The Central Bank of Iran today reported that the inflation rate for the Iranian calendar year 1389, ending 20 March 2011, has hit 12.4%. The Iranian economy registered a low inflation rate of 8.8% last summer, but since the start of the subsidy reforms six months ago, the inflation has been on the rise, now hitting 12.4%. With continued removal of government subsidies and the monthly cash payouts to the families, the inflation rate is expected its climb during the current calendar year of 1390.
still a good value, Iranian saw in the past inflationrate of 20-30%
ReplyDeletethis is the same as in most of the EU, for the exception the EU countries with GB and USA are better in masking their figures!
ReplyDeleteInflation is a monetary phenomenon. It is too much money chasing after too few goods. Persistent inflation such as Iran's is always caused by government and always has the same victims, lenders and those whose incomes are fixed, which tend to be the elderly and the poor.
ReplyDeleteInflation is not something that "just happens". It is the result of the current government making conscious decisions and bearing the moral and legal responsibility for those decisions.