In its annual report, Statistical Center of Iran announced that in the past 12 months Iran has experienced the highest rate of inflation in the past five years at 27 percent.

According to the new report by the center which was published on Thursday, March 21, the average inflation rate in the last Iranian year has been the highest in the past five years. However, international experts have estimated Iran’s inflation at a much higher rate.

In the previous decade, Iran had once before announced an inflation rate of 39 percent.

According to the report, tobacco products witnessed the highest rate of inflation with over 102 percent inflation.

Public utilities like water, electricity, and fuel witnessed 17 percent inflation in the past 12 months. The average inflation rate for goods in March compared to the March of last year have been 47.5 percent.

Food and drink items have also witnessed a 73 percent inflation compared to same time last year. Non-consumable goods saw 114 percent increase in prices.

In his annual Nowruz address, Ali Khamenei, the leader of the Islamic Republic said that the country’s problem is an economic one and called for reemergence of production in the country.