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| Syria-Lebanon-Iran |
| Iran's official inflation climbs to 21.5 pct |
| 2012-04-09 |
| Iran's official inflation rate has almost doubled over the past year as prices are driven up by budget reforms, a weak currency and international sanctions, according to new data which could add to criticism of President Mahmoud Ahmadinejad. Â Inflation in urban areas was 21.5 percent for the last Iranian year which ended on March 19, the central bank said in a statement on Sunday. Prices of goods and services rose 12.4 percent during the preceding year, according to figures previously released by the bank. |
| Posted by:trailing wife |
| #2 Probably the official inflation stats are as honest as the west's ones. |
| Posted by: Bright Pebbles 2012-04-09 19:58 |
| #1 the Iranian rial now has an official exchange rate of about 12,000 rial to one US dollar (during the the time of the Shah it was about 70 rial to the dollar). The street exchange rate is somewhere between 18,000 and 24,000 to the dollar. Given the situation, Iran will be trying to re-normalize their currency this year or next. |
| Posted by: lord garth 2012-04-09 08:14 |