Wednesday, May 29, 2024

Inflation rate in Iran hits record high under Raisi: Daily

An Iranian daily highlights the figures released by the Statistical Center showing that the inflation rate in the country sets a new record high to reach 45.8% in March.

Sobhe-No, which is said to be close to Iranian Parliament Speaker Mohammad Bagher Ghalibaf, reported that the inflation rate broke the highest record registered in the past decade.

The figures in April showed a declining trend, while research centers believe that the monthly inflation rate is significantly higher than the numbers released by the Iranian Statistical Center, it added.

The report said the inflation rates officially released seem to be lower than what people are dealing with in their every-day lives.

The administration of President Ebrahim Raisi has set the tackling of inflation and currency devaluation in Iran as priorities for the 2023-2024 budget presented to the Parliament.

Iran’s economy has been subject to draconian sanctions imposed by the US and other Western states.

The Raisi administration has placed a ‘look-to-the-East’ policy high on its agenda to offset the bans.

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