World Bank: Iran food inflation drops 7.5 percent

 

The World Bank has reported a 7.5-percent decline in Iran's food inflation rate, marking a positive step towards stabilizing the country's economy.

According to the bank's latest data, food inflation in Iran fell by 7.5 percentage points in February 2024, reaching 31.2%.

The World Bank categorizes countries based on their real food inflation rates further highlighting Iran's progress. For the first time, Iran has entered the "green category" for real food inflation, indicating that its inflation rate is below the global average.

The decline in food inflation is attributed to a combination of factors, including increased domestic food production, improved supply chains, and targeted government interventions. These measures have helped to stabilize food prices and ensure greater access to essential food items for the Iranian population.