The Statistical Center of Iran’s latest survey of the country’s 31 provinces shows Khuzestan posted the lowest average annual inflation with 42.7% while West Azarbaijan registered the highest with 53.1% in the current Iranian year’s 10th month (Jan. 21-Feb. 19).
The overall average goods and services CPI in Iran over the 12-month period ending Feb. 19 increased by 47.7% compared with the preceding year’s corresponding period.
The annualized inflation reported by SCI on a monthly basis has reached a new high. Only in the fiscal 1995-96 and 1996-97 did the country experience inflation rates above the current level. This is the ninth consecutive month the annualized inflation is rising after the government put into effect what it touted as “economic surgery” by abolishing the heavily subsidized import of essential goods.