Iran's annual inflation rate regresses to 16%

Iran’s annual inflation rate regresses to 16%

Central Bank figures show that Iran's annual consumer price inflation rate decreased to 16% in November. However, price rises were above the government's target. Economists stated that high oil revenues and government's weak fiscal policy are fueling liquidity expansion in the oil-exporting country. This situation creates pressure on domestic prices. The government aims to reduce the inflation rate to 13% by March 20, 2005 compared with the 15.6% recorded in March 19, 2004.