Iran inflation rises, stands at 28.7%: central bank

TEHRAN,Feb.4(MNA) - The Central Bank of Iran announced that the inflation rate in the 12-month period ended the tenth Iranian calendar month of Day (January 19) rose by 1.3 percent compared to the 12-month period ended on December 20, 2012 and hit 28.7 percent. In December 2012, IRNA quoted Finance and Economic Affairs Minister Shamseddin Hosseini as saying that the Iranian administration has special plans to curb a probable surge in inflation during the final months of the current Iranian calendar year, ending on March 20, 2013. Since recent rises in prices of goods are in close relation with rises in foreign currency prices, so we should rein in foreign currency shocks, he added. Seventeen million Iranian will receive staple food rationing cards, as the administration and the parliament have agreed to adopt policies to assist low-income families. Rice, sugar, and edible oil will be distributed among low-income strata of society. Earlier, the Majlis and the administration agreed to allocate $2 billion from the National Development Fund to support low-income families. The money will be used to provide staple foods to poor families.