The Economist reported that the inflation rate in the Islamic Republic of Iran became double in 2011. Iran's inflation rate stood at 10.1 percent in 2010, the Economist reported in its December Version adding that the index in 2011 became double reaching 20.2 percent. According to the report, the inflation rate in Iran will start a falling process in 2012 standing at 17.1 percent. The index will also fall to 14.7 percent in 2013. The inflation rate will reach 15.6 percent in 2014 and 16.1 percent in 2015. In 2016, Iran's inflation rate will stand at 16.3 percent, according to the Economist.