NCRI – Iran’s inflation has soared to 61 per cent – inflicting an even greater cash burden on the population’s dwindling spending power, a regime official has admitted.
Kazem Jalali, the head of the parliament’s research center, blamed the exchange rate and bad management of monetary policy by ministers for the rocketing prices.
He said on July 23: “Inflation and the economic state of the nation is such that it will not be corrected quickly.
“Inflation is being caused by many factors, including the currency exchange rate, financial and monetary policies and incomplete execution of the Subsidy Reform Plan, so there must be some planning done for all of these.
“We must look at restructuring policy making decisions and correcting the statistical system, because we are also receiving incorrect and contradictory statistical information at the moment.
“We are also facing many problems in the health service and there is a crisis regarding to medicine.
“Regarding agricultural, we are also seeing negligence in implementing the plan on wheat.”
Incoming president Hassan Rouhani recently announced that inflation was currently at 42 per cent – but this has since been contradicted by regime officials.
According to the Central Bank of Iran, the inflation rate averaged 13.75 per cent from 1957 until 2013, reaching an all time high of 59.02 per cent in May of 1995 and a record low of -3.27 per cent in April of 1958.
In Iran, the most important categories in the consumer price index are housing, water, electricity, gas and other fuels (29 percent of total weight) and food and beverages (28.5 percent of total weight). Others include: transport (11.97 percent); furnishings, household equipment and routine household maintenance (6 percent); clothing and footwear (6 percent) and health (5.5 percent).
The smallest groups are: recreation and culture; education; restaurants and hotels; communication; tobacco and miscellaneous goods and services.
