Iran’s official inflation rate climbed to 34% for the year ending with the Iranian month of Khordad on 21 June, according to Central Bank of Iran (CBI) figures. This is up from 31% a month earlier and well above the IMF’s predicted 27% figure for 2013. Unofficially the inflation rate could be double this, independent economists and analysts maintain (see graph 1).

CBI Governor Mahmoud Bahmani says the authorities will seek to curb inflation by selling bonds and gold coins, and by reducing the rate of liquidity growth in the economy. Broad money growth grew by 27% last year, according to IMF figures. (CONTINUED - 826 WORDS)