Iran Economy in Brief – No. 27

Iranian technicians work on parts for Peugeot 206 cars at the Iran Khodro auto plant, west of Tehran, on September 30, 2008. The chairman of Iran's biggest car maker accused France of "inappropriate policies", which he said are hampering joint ventures in a country where French manufacturers have a 40 to 50 percent market share. In July, IKCO, Iran's biggest car company, celebrated the 20th year of cooperation with Peugeot, whose 405 and 206 ranges it manufactures under licence. AFP PHOTO/BEHROUZ MEHRI (Photo credit should read BEHROUZ MEHRI/AFP/GettyImages)

Inflation Rate Below 10%

Inflation rate in Iran has dropped to 9.5%, announces the Center of Statistics of Iran on Tuesday. Right at the end of the presidency of Mr. Ahmadinejad in September 2013, inflation rate was 35%. If the inflation remains below 10% for the current year, it will be a great achievement for the Government as it has only happened twice in the history of the Islamic Republic of Iran that inflation rate was below that figure.

The highest inflation rate experienced in the Iranian history, is 110.5% during the second worldwar, i.e.  March 1943-1944.

Read More: A Quick History On Inflation Rate in Iran

Source: Central Bank of Iran

 Peugeot: Officially in Iran Again

IKAP is the name of the joint firm of Iran Khordo and Peugeot, officially inaugurated this week. The joint venture is said to be 50-50 and so far 17 subsidiary contracts have been signed between the two companies. The first product, Peugeot 2008 at a tentative price of 700 to 800 million Iranian Rials ($20 K to $23 K) is to enter the market by March 2017.

During the inauguration of IKAP, Mr. Nematzadeh, Minister of Industry and Trade, said that another joint venture between Iran Khodro Diesel, a daughter company of Iran Khordo, and a German car-maker will be signed within the next month, but he refused to name the company.

How much one-minute phone-conversation costs in Iran?

Telecommunication tariffs in Iran is increased by 50%, finally confirms Mahmoud Vaezi, Minister of ICT of Iran. The previous tariff for one-minute conversation on the fixed line was 30 IRR (0.0009 USD); in another word, 1000 minutes of conversation would cost 0.9 USD. New prices will be 45 IRR for each minute. The price for buying and installation of a new fixed phone line, however, have been five times folded, reaching 2.5 million IRR (72 USD), from previously 14.4 USD.

Ream More on Telecommunication Operators in Iran

Sources: Ministry of Information and Communication Technology of Iran