Bank: Iranian inflation increasing

TEHRAN, July 5 (UPI) -- The annual inflation rate in Iran reached 26.4 percent last month, an increase of 1.1 percent from the previous month, the country's top bank says.

The Central Bank of Iran said in a statement that the rate was 25.3 percent in the Iranian calendar month that ended May 20, PressTV reported Saturday.

The inflation rate increase comes as the Grand Ayatollah Hossein Nouri-Hamedani has expressed concern about rising consumer prices in Iran, PressTV said.

"In a phone conversation with (Iranian) President Mahmoud Ahmadinejad, I urged the exertion of stricter control on the soaring prices now weighing down those at the bottom of the economic ladder," the Iranian religious leader said.

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