Inflation rate of Iran 2024

Iran’s inflation rate rose sharply to 30.49 percent in 2018 and was projected to rise another six percentage points before slowly starting to decline. Given the recent sanctions by the United States regarding the nuclear deal, this number has both political and economic implications.

Political implications

President Hassan Rouhani won the 2017 election based on economic promises, many stemming from the Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran Nuclear Deal. Lifting these sanctions opened the Iranian economy to many opportunities, including the chance to benefit from increased oil exports. The JCPOA was an integral part of the Rouhani campaign, so any economic hardship that is linked to the deal will likely be blamed on the president.

Economic implications

High inflation leads to high interest rates, which leads to less borrowing. Less borrowing means less investment, which slows economic growth. This slower growth often leads to higher inflation, which is what economists call an inflationary spiral. As such, Iran will have difficulty achieving substantial GDP growth until inflation returns to manageable rates.

Iran: Inflation rate from 1984 to 2024

Inflation rate
2024*25%
2023*25.5%
2022*27%
2021*29%
2020*31%
2019*35.68%
201830.49%
20179.64%
20169.05%
201511.92%
201415.56%
201334.7%
2012 30.57%
2011 21.53%
2010 12.3%
2009 10.82%
2008 25.3%
2007 18.41%
2006 12%
2005 10.25%
2004 15.32%
200315.57%
2002 15.83%
2001 11.54%
2000 12.29%
1999 20.24%
1998 18.45%
1997 16.54%
1996 23.92%
1995 49.32%
1994 34.86%
1993 22.47%
1992 24.48%
1991 20.17%
1990 9%
1989 17.4%
1988 28.9%
1987 27.71%
1986 23.72%
1985 4.38%
1984 12.58%
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Source

Release date

October 2019

Region

Iran

Survey time period

1984 to 2018

Supplementary notes

*Estimate.

Figures have been rounded.

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Statistics on "Iran"

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