Iran inflation rate up to 10.8%

Feb 02, 2011 12:00 AM

Iran's central bank reported that inflation rate in the Islamic Republic 10.8 % in January 2011 compared to from 10.1 % in December 2010, reported The Peninsula. The central bank said that inflation rate in the country increase from its lowest point in August 2010 when inflation stood at 8.8 %. It is predicted for prices to go even higher as the governments slashed huge amounts of its subsidies.
Iranians say that after subsidies were decreased prices have witnessed a steady increase. It is worth noting that a large number of Iranians believe that prices hiked in a percentage much more than the one announced by government. Parliament's research centre said last year inflation was over 50 %.

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