Food prices go up in Iran . the highest inflation rate since 1994

The Iranian Labor News Agency (ILNA) reported Thursday that the head of the Association of Wholesale Food Traders in Iran said prices have risen from 30% to 90% in the past five months due to inflationary pressures on agricultural production.

Qasmali Hosseini said the prices of all goods and services in food production have risen since the beginning of the Iranian calendar year in March and that rising food prices are “inevitable”.

He added that daily food prices have risen by 30-90% and some prices are still rising.

Butter now costs 30% in more, while cooking oil and cereals are 35% more expensive. Rice, the most common staple food for Iranians, increased by 38%. Hosseini said the price of rice has the greatest impact on ordinary people, as reported by Iran International.

The biggest price jump was for sugar and related foods, which increased by 90%.

The annual rate of inflation in Iran reached 45.2% in July-August, the Iranian Statistical Center reported Tuesday, as it also announced that the inflation rate in food has exceeded 58%. This is the highest inflation rate since 1994, when Iran recorded an official rate of 49.5%.

Read More About: Business News

Follow AsumeTech on

More From Category

More Stories Today

Leave a Reply