Iran Central Bank under fire for 24% inflation

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October 22, 2012 04:10




Iranian economists and analysts continued to criticize the Central Bank of Iran on Sunday for poor reporting on the country’s skyrocketing inflation rate and for failing to stabilize its currency.

On Saturday, the central bank reported that the official inflation rate for the Iranian month of Shahrivar (August 22-September 21) was 24 percent, an increase of just half a percentage point over last month’s figure.

However, as political infighting between Iranian President Mahmoud Ahmadinejad and his conservative critics continues over who is to blame for Iran’s economic crisis, Iranian analysts have warned that real inflation figures could be as much as double the central bank rate.

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