The inflation rate has now declined for three straight months, opening up the possibility that President Rohani will achieve his goal of single-digit inflation in the near future. The figures published by the Central Bank of Iran show the inflation rate as compared with the same month in the previous year has now fallen from 14.2 percent in the Persian month of Tir (June-July) to 12.6 percent in Mordad and 11.7 percent in Shahrivar, which ended September 22. As the above chart shows, the inflation rate as a 12-month average has remained steady in those months at a little above 15 percent. But as the chart also shows, the 12-month average tends to rise or fall only after the calculation based on the same month in the previous year has risen or fallen. So, the figures definitely point to a declining rate of inflation. The last time the inflation rate was below 10 percent was for a few months in 2009 and 2010.
