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Tehran expects inflation rate to hit single digit in January

Tehran expects inflation rate to hit single digit in January

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Date: 15 December 2015 22:17

Baku, Azerbaijan, Dec. 14

By Khalid Kazimov – Trend:

The rate of point-to-point inflation in Iran will be down to a single digit figure in January, Minister of Economic Affairs and Finance Ali Tayyebnia said, Fars news agency reported.

He added that the economy growth which currently indicates negative figure will reach three percent and the level of foreign investment will increase in the country.

He made the remarks during a conference on improvement of business environment in Tehran Dec. 14.

Earlier in November Iran's Statistics Center announced that the inflation rate in Iran's urban areas for 12-month period hit 13.1 percent.

The point-to-point inflation rate statistics identify the rate between distinct points in time, such as the inflation rate at the end of a month compared to the rate of inflation at the end of the same month in the previous year.

The center also said that the consumer price index (CPI) in Iran’s urban areas stood at 220.1 units between 21 March and 21 November, which was 0.7 percent more than its preceding month.

The minister added that the international sanctions against Tehran’s economy and industry will be removed soon and it will increase the country’s oil exports.

He said that the country has prepared a roadmap for comprehensive economic cooperation with foreigners and added that the roadmap has clarified the roles of organizations and foreign countries in improving Iran’s economy.

Iran expects international sanctions to be lifted at the first of coming year, as it is adhering to the terms of a July nuclear deal clinched between Tehran and the World’s six major powers.

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