January 28, 2023

Persian News

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Curbing inflation is CBI’s main strategy: governor

TEHRAN – The new governor of the Central Bank of Iran (CBI) has said curbing inflation would be the main strategy of the bank during his tenure, IRIB reported.

Speaking in a meeting with the country’s economic experts and scholars on Saturday, Mohammadreza Farzin said in order to curb inflation, managing the demand for liquidity and money creation would be put on the agenda and the influencing factors on the pricing side will also be controlled as well.

“We will implement an active monetary and banking policy in this regard,” Farzin said.

The Statistical Center of Iran (SCI) has put the average inflation rate in the twelve-month period ended on December 21, which marks the end of the ninth Iranian calendar month Azar, at 45 percent, rising one percent from the figure for the twelve-month ended to the eighth month.

The center put the country’s point-to-point inflation rate at 48.5 percent in the ninth month, which means families have paid an average of 48.5 percent more for purchasing the same package of commodities and services in that month, compared to the same month in the preceding year.

The inflation rate was 44.3 percent for the urban households, rising one percent from the previous month, and 48.6 percent for the rural households, increasing 1.2 percent from the previous month.

The Statistical Center of Iran has put the average inflation rate in the twelve-month period ended on March 20, which marks the end of the past Iranian calendar year 1400, at 40.2 percent.

EF/MA

Original News : https://www.tehrantimes.com/news/480811/Curbing-inflation-is-CBI-s-main-strategy-governor

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