According to the figures released by the Statistical Center of Iran (SCI) on May 23, the annual inflation rate stood at 37% in the year to May 20, the lowest reported in three years and down 1.8 from the same rate reported in late April.
Point-to-point inflation, an index which compares price changes in the same month in two back-to-back years, reached 31% in May, down 0.1% from the previous calendar month.
SCI figures showed that Iran's monthly inflation rate had stood at 2.8% in late May.
With economy being a main concern of people in Iran, the administration of the late president Ebrahim Raisi has prioritized policies aimed at improving the economy and increasing the purchasing power of people since it took office in August 2021.
In December 2023, the World Bank said in a report that Iran’s economy had continued to grow for the fourth consecutive year, highlighting the success of the Iranian administration in curbing inflation and stabilizing the currency market.
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