According to the figures released by the Statistical Center of Iran on May 23, the annual inflation rate stood at 37% in the April 11-May 11 period, the lowest since 2021.

The figure also shows a 12.1-point decrease year on year.

Also during the April 11-May 11 period, the point-to-point food inflation reached its lowest level in nearly four years, standing at 22.7%.

With economy being a main concern of people in Iran, the administration of the late president Ebrahim Raisi has prioritized policies aimed at improving the economy and increase the purchasing power of people since it took office in August 2021.

In December 2023, the World Bank said in a report that Iran’s economy had continued to grow for the fourth consecutive year, highlighting the success of the Iranian administration in curbing inflation and stabilizing the currency market.