Figures released by the Iranian Statistics Centre (SCI) on Wednesday showed that the domestic consumer price index reached 328.1 through April 20, an increase of 33.2% compared to late April 2024.
SCI said it added that Iran’s headline inflation rate in April increased by 0.7% compared to March, adding that inflation increased by 3.9% each month.
Sci data showed that prices for food, beverages and smoking products in Iran increased by 4.2% in April, while inflation of non-food products and services rose by 3.8% over the same period.
Inflation measured on the point-to-point scale was 38.9% in April, compared with the rates over two months of consecutive years, at 1.8%, up 1.8% from the same rate reported in March.
Iran has been working on high but controlled levels of inflation since 2020 when the country began to feel the economic impact of the coronavirus pandemic a year after the US tightened sanctions on Iran’s oil exports.
Iran’s annual inflation rate rose to nearly 49.1% in May 2023. This was shy about the greatest record ever reported about 30 years ago.
Experts say Iran’s rising inflation in April was primarily the result of a massive rise in coin prices that came after US President Donald Trump signed the president’s memorandum after he ordered a campaign of maximum pressure on Tehran in early February.
Currency prices have been eased in Iran since early April, when Iran and the US began indirect talks on Tehran’s nuclear program.
MNA/presstv