February 18, 2022
Inflation rose last month, reversing course for the first time since Ebrahim Raisi took office as president in August. Inflation by the main measure that is, compared to the same month of the previous year rose a modest 0.7 percentage points to 35.9 percent in the Persian month ending January 20, according to the Statistical Center of Iran. By an alternative measure, the 12-month average, inflation fell one percentage point to 42.4 percent. But the first measure is considered more important because it tends to show the direction inflation will take in the near future. By either measure, however, Iran’s inflation rate is shockingly high by world standards. Out of more than 200 economies, the World Bank and International Monetary Fund rate only five currently as having higher rates than Iran: Venezuela; Sudan; Argentina; Lebanon; and Syria. The world average has run around 5.0 percent so far this century; Iran has not been that low since before the revolution.
