Inflation in Iran

Iran Inflation | Economic News & Forecasts

Iran - Inflation

GDP growth should have remained robust in H2 2021, but ongoing U.S. economic sanctions and a spike in new Covid-19 cases in Q3, which led to a nationwide lockdown, likely subdued momentum somewhat. Oil production continued to pick up in July–November, which should have supported the energy sector. That said, the non-oil sector likely struggled as Covid-19 restrictions continued to keep non-essential businesses closed in some regions of the country. Nevertheless, new cases have declined in recent weeks, boding well for activity ahead. On the fiscal front, in mid-December President Ebrahim Raisi submitted next year’s budget proposal, which includes a stark rise in military spending and a steep fall in expected oil exports for the next fiscal year. Meanwhile, progress on reviving the 2015 nuclear deal was made in late December and authorities expect to make a breakthrough in the coming month.

Iran - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)11.1  6.9  8.2  26.9  34.8  

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Iran Inflation Chart

Iran Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Central Bank of Iran.

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