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Iran's Economy Teeters
ByThe inflation rate just surged, and unrest is brewing:
The CPI surged by 16.1 percent in the month from May 22 to June 22 from the same month of this year, giving an annual inflation rate of 14.2 percent, it said.
The rise follows an increase in the price of petrol from just eight cents to 10 cents a litre in May, while a rationing plan which took effect last month has also had an inflationary effect on services and consumer goods.
The price of foodstuffs and housing has also increased substantially. In May, the central bank forecast that inflation would reach 17pc in the current Iranian year to March nest year, compared with an official rate of 13.5 percent last year. However many economists dispute this figure and Iranian parliamentary research has estimated that inflation this year is running at 22.4 percent
Know hope.
