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Iran's inflation seen to exceed 30% in coming weeks
- Iran: Tuesday, February 26 - 2013 at 03:25
Iran's central bank has said the country's inflation is continuing to rise and is likely to top 30% in coming weeks, as economic sanctions contribute to shortages and stockpiling by anxious consumers, Reuters has reported. "The reduction in supply of some product lines and the psychological effect of concern about access to goods have led to inflation," said the central bank governor, Mahmoud Bahmani. Iran has suffered double-digit inflation rates for most of the past decade. Inflation began rising sharply at the end of 2010, before the latest sanctions were introduced, when the government slashed food and fuel subsidies.
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