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Iran Inflation Dips to 21.5 Percent in July - ASHARQ AL-AWSAT English Archive
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TEHRAN, (AP) — Iranian inflation, one of the country’s biggest economic challenges, fell to 21.5 percent in the Iranian month ending July 22, the official news agency IRNA said on Tuesday, citing a central bank report.

The figure is down from 22.5 percent in the previous month.

Inflation in Iran, OPEC’s second biggest oil exporter, has been witnessing a downward trend since September when it peaked at 29 percent.

Several economists blame newly re-elected President Mahmoud Ahmdinejad for stoking inflation with his expansionary policies during his first four-year term.

Economists accuse him of directly fuelling price rises by ploughing huge amounts of cash into the economy for local infrastructure projects and by offering low-interest loans.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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