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News number: 8808191515

16:22 | 2009-11-10

Economy

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Inflation Rate in Iran Falls in October

TEHRAN (FNA)- The Central Bank of Iran (CBI) announced in its latest monthly report that the inflation rate in the country dropped in October.



According to CBI figures, the annual inflation rate in the Iranian month of Mehr, which ended on October 22, dropped to 7.6 percent- a fall of 1.7 percentage points compared to the previous month.

The average inflation rate in the 12 months to Mehr also dropped to 16.7 percent from one year earlier, the report said.

Consumer prices rose 0.1 point in Mehr, following a 0.4 point rise in the previous month.

The Iranian Parliament began a long-awaited debate last month on President Mahmoud Ahmadinejad's subsidy reform plan, which aims to gradually cut energy and food subsidies. Economists fear the plan will further hike up prices.