Iran’s central bank warns of greater inflation

21 November 2007
Iran’s central bank is warning that the country faces a further acceleration in inflation, according to media reports in Tehran.

Hossein Ghazavi, deputy governor of Bank Markazi, says the producer prices index in the country climbed 15.2 per cent over the year to 23 August, compared with 8.4 per cent over the year to 23 August 2006.
“Producer price indices tell us about future economic changes. These are statistics that bring the news of inflationary pressures in the future,” he was reported as saying in an interview with the local Etemad Melli newspaper.
The latest figures from Bank Markazi (central bank) show consumer price inflation reached 18.1 per cent over the year to 22 October. This was a rise on the 17.9 per cent over the year to 22 September.
Critics of President Mahmoud Ahmadinejad say his spending programme has led to higher inflation.

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