Iran inflation dips to 22.5 pct

July 12, 2009

, TEHRAN, July 12 – Iranian inflation, one of the biggest economic challenges facing the country, fell slightly to 22.5 percent in the Iranian calendar month ending June 21, the Sarmayeh newspaper said on Sunday, quoting a central bank report.

The figure is down from 23.6 percent in the previous month.

Inflation in Iran, OPEC\’s second biggest oil exporter, has been witnessing a downward trend since September when it peaked at 29 percent.

Several economists blame newly re-elected President Mahmoud Ahmdinejad for stoking inflation with his expansionary policies during his previous four-year term.

Economists accuse him of directly fueling price rise by ploughing huge amounts of cash into the economy for funding local infrastructure projects and by offering low-interest loans.

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