Before releasing its inflation figures, the CBI has to clear them with a government office, the Supreme Council of Statistics (MEES, 11 July 2011). The latest inflation figure is absurdly low, considering that last December the head of parliament’s Research Center, Ahmad Tavakoli, estimated the inflation rate then at 26% (MEES, 20 February).

Inflationary pressures have been exacerbated by the ongoing depreciation in the Iranian rial since the beginning of this year, culminating in an all-time low of $1=IR37,500 recorded in early October. Independent Iran observers therefore believe that the inflation rate could be as high as 50% or more. (CONTINUED - 362 WORDS)