Abstarct: This study examines the impact of national money supply growth on provincial inflation in Iran from 2006 to 2024. Recognizing the persistence of inflation and significant structural differences across provinces, the research focuses on regional heterogeneity rather than national averages. Provincial panel data and fixed-effects models are employed to control for unobserved provincial characteristics and capture inflation dynamics over time. Money supply growth is considered the main explanatory variable, while exchange rate movements, sectoral GDP, unemployment, and government expenditure are included as control variables. The results show a positive and statistically significant relationship between money supply expansion and provincial inflation. However, the magnitude of this effect varies considerably across provinces, reflecting differences in economic structure, import dependence, labor market conditions, and sectoral composition. These findings suggest that uniform monetary policies may produce asymmetric regional outcomes. Therefore, the study emphasizes the importance of incorporating provincial economic characteristics into policy design. The results offer useful insights for developing more targeted and effective anti-inflationary strategies tailored to regional conditions.