Iran’s inflation rate rose to 23.5 percent in the month that ended on Aug. 20 from 22.9 percent the previous month, the central bank said today on its website.

While the central bank said in its report that inflation will continue to increase, President Mahmoud Ahmadinejad said in a televised interview late yesterday that “the inflation growth rate has declined this year. The inflation rate will decrease in the second half of this year.”

By Yeganeh Salehi

Source: Bloomberg