Inflation Remains Key Challenge As Prices Push Higher

We continue to see accelerating inflation as the Iran's key macroeconomic challenge, after recent figures released by the Central Bank of Iran noted that consumer price inflation (CPI) accelerated by 25.3% y-o-y in Iranian month Ordibehesht (Apr-May), up from 24.2% y-o-y in the previous month. Prices in the Islamic Republic are continuing to push higher on the back of the global rise in food and fuel prices - the food component of the CPI gained 20.7% y-o-y in Bahman (Jan-Feb) - and President Mahmoud Ahmadinejad's imprudent economic policies. In addition, the CBI also reported a record increase in input prices,

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