Minister Vows to Keep Wage Rise Above Inflation

EghtesadOnline: Minister of Cooperatives, Labor and Social Welfare Ali Rabiei says he will continue to press for the elimination of absolute poverty if he remains in office for the next four years.

News ID: ۷۷۸۳۵۴

14 August 2017

“One of the major strategies would be to ensure that the rise in workers’ salaries exceed inflation,” IRNA quoted Rabiei as saying.

Wage increases outstripped inflation rate in the current Iranian year (March 2017-18) for the third consecutive year.

The minimum wage set for the current year saw a 14.5% rise compared to last year to stand at 9.3 million rials ($248) per month, according to Financial Tribune.

The Central Bank of Iran’s latest report on inflation shows the average goods and services Consumer Price Index for urban areas for the 12 months ending July 22 increased by 10.3% compared to the preceding year’s corresponding period.

President Hassan Rouhani, who officially started his second term in office last week, has named Ali Rabiei to keep his position as Iran’s labor minister for another four years. His reappointment awaits a vote of confidence in the parliament within the next few days.