Figures by the Statistical Center of Iran (SCI) show the country’s annual inflation rate rose by 1.8% to 47.6% in the calendar month to late April.
SCI figures published on Saturday showed that Iran's consumer price index (CPI) had reached 180.5 in March, up 3.7% from the previous month and 55.5% higher from the same figure reported in April 2022.
The figures showed that Iran’s monthly CPI for food, beverages and tobacco had increased by 4% in April compared to March while services CPI increased by 3.5% month-on-month.
The SCI announced earlier this year that it had changed in baseline year for calculation of inflation rate from 2017 to 2021.
The annual inflation rate announced for the calendar month in April is one of the highest recorded in the country in three decades.
Iran has been experiencing high but controlled levels of inflation in recent years as the country has struggled with the impacts of global inflationary trends and the US sanctions targeting its crude oil exports.
Experts believe economic policies adopted by the Iranian government to reduce the country’s reliance on oil revenues have also contributed tp soaring prices.
Iranian inflation rates resumed an upward trend in mid-2022 after the government decided to stop earmarking heavy subsidies to imports of some basic goods.