Iran's average monthly inflation hits 25.4 percent

Inflation in Iran amounted to 25.4 percent on the average during the past Iranian calendar year, which ended on March 20, the Fars News Agency reported. The inflation rate increased from 21.8 percent in the first calendar month of Farvardin to 31.5 percent in the final month of Esfand, according to the report. In December 2012, IRNA quoted Finance and Economic Affairs Minister Shamseddin Hosseini as saying that the Iranian administration has special plans to curb a probable surge in inflation during the final months of the current Iranian calendar year, ending on March 20, 2013. Since recent rises in prices of goods are in close relation with rises in foreign currency prices, so we should rein in foreign currency shocks, he added.

Tasnim News Agency reported on March 20 that the inflation rate in Iran has hit a record high in the past calendar year. It passed 30 per cent which was a record high for the past 17 years.

In December 2012, IRNA quoted Finance and Economic Affairs Minister Shamseddin Hosseini as saying that the Iranian administration has special plans to curb a probable surge in inflation during the final months of the current Iranian calendar year, ending March 20, 2013.

Iran's inflation rate is the highest among the Middle East countries, Iranian parliament's research centre reported back in February.

According to the report, the country also was sixth on the list of countries with the highest inflation rate amongst the South-western Asian nations in 2012.

The inflation rate in Iran is 4.3 times that of the average rate among South-western Asian nations, according to the report.