Iran's inflation rate in the 12- month period ended on the tenth Iranian calendar month (from Dec. 21, 2012 to Jan. 19, 2013) hit 28.7 percent, Tehran Times daily reported on Monday.
Earlier, the Central Bank of Iran announced that the inflation rate was 27.4 percent in Iran's ninth Azar month (from Nov. 20 to Dec. 20, 2012).
In December 2012, Iranian Minister of Economic Affairs and Finance Shamseddin Hosseini said that the Iranian administration had special plans to curb a probable surge in inflation during the final months of the current Iranian calendar year, ending on March 20, 2013, according to the daily.
"Since recent rises in prices of goods are in close relation with rises in foreign currency rates, so we should rein in foreign currency shocks," Hosseini was quoted as saying.
Due to the Western sanctions on Iran's energy sector and financial system, the local currency depreciated sharply against foreign currencies in the past year. On Monday, one U.S. dollar was sold for about 38,000 rials in Tehran's street market, while it was sold for 13,000 rials in October 2011.
Semi-official Mehr news agency reported on Jan. 24 that the Iranian government and parliament agreed to distribute staple food coupons to some 17 million Iranians in a move to assist the low- income families.
In a joint meeting, the government and the Majlis (parliament) agreed to give out rice, sugar and cooking oil to poor people and allocate 2 billion dollars to support low-income families in light of shortages of basic commodities and high inflation rate, according to Mehr.
Further, the Iranian administration and the parliament recently decided to pay cash assistance to 60 million Iranians on the eve of the new Iranian calendar year starting on March 21, 2013, Tehran Times reported on Monday.
Based on the decision, around 1 million rials (26.3 dollars based on Monday market currency rates) will be paid to every individual. The money will be drawn out of Iran's National Development Fund and will be deposited to banking accounts of breadwinners of the families by Feb. 28, said the daily.
