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In 2018, inflation rate in Iran was 31.2 %. In the ranking by inflation rate including 189 countries, Iran has the 6th rank that is close to the positions of such countries as Argentina and the Democratic Republic of the Congo. Compared to Venezuela (Bolivarian Republic of) which at the top of the ranking with inflation rate of 929,789.5 % in 2018, Iran has 100.00 % percent lower inflation rate.The description is composed by our digital data assistant.
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data for inflation are averages for the year, not end-of-period data.