The governor of the central bank of Iran Mahmoud Bahmani said that the country’s 12-month inflation rate reached 17.2% despite the implementation of subsidy reform. The Mehr news agency quoted Bahmani as saying that the direct share of the subsidy reform plan was only 4.5% and the indirect rate was 1.9%.

The subsidy reform plan, which was implemented in October 2010, charted out how the Iranian government will gradually slash national energy subsidies over the course of five years, with low-income families compensated directly with cash subsidies.

Source: Tehran Times, Iran