TEHRAN (AFP) – Inflation in Iran, one of its biggest economic challenges, fell to 16.7 percent in the Iranian month ending October 22, state television reported on Tuesday, quoting a central bank report.
The figure is down from 18.5 percent in the previous month.
Inflation in the Islamic republic, OPEC’s second biggest oil exporter, has been falling since September 2008 when it peaked at 29 percent.
Some economists blame President Mahmoud Ahmadinejad for stoking inflation with his expansionary policies during his first four-year term.
Economists accuse Ahmadinejad, who was re-elected in June, of directly fuelling price rises by ploughing huge amounts of cash into the economy for local infrastructure projects and by offering low-interest loans.