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Iran's inflation reaches four year low
Sat, 27 Feb 2010 08:02:33 GMT
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CBI chief Mohammad Bahmani
The Central Bank of Iran (CBI) says the country's inflation has reached to its lowest level in the past four years.

CBI chief Mohammad Bahmani says the annual inflation rate in the Iranian month of Bahman, which ended on February 4, stood at 11.5 percent.

He predicted that the inflation will decrease by one percent to 10.5 percent in month of Esfand (ending March 20).

Bahmani says the government is curbing the price rises by controlling liquidity and financial market.

Earlier this month, Iran's Finance Minister Shamseddin Hosseini said that the plan to reduce the inflation rate will be continued during the next Iranian year by CBI until the inflation reaches a single digit rate.

"A plan to lessen the inflation rate had been put on the government's agenda at the beginning of the current Iranian year (March 21, 2009)," Hosseini told reporters.

He said that financial discipline is a must for the government to reduce the inflation.

President Mahmoud Ahmadinejad's economic policies came under heavy criticism in his first term for raising liquidity, which consequently triggered mounting inflation.

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