Iran the price index leaps 58% to the highest level of the last 40 years

The Iranian agency Fars acknowledged that inflation (the price index of goods and services) has reached a record by 58% last August, the highest rate since 1979.

In a moment in which Tehran continues to expand its nuclear program, the inflation rate shows to be at the top of the chronic crises of the Iranian economy, in the light of economic stagnation, reinforced by the influence of the pressures of the nuclear dossier, bringing effective inflation to the level higher in 26 years.

According to a previous report by the Iranian Statistical Center, the average rate of inflation in Iran was In August, with an annual comparison of 45.2%, the figure was 44.5% for urban households and 48.7% for urban households. for rural families.

Inflation in Iran has steadily increased since President Donald Trump withdrew from the 2015 nuclear deal, according to the Institute for the Defense of American Democracy.

In 2020, inflation fell in relative number, as deflation dominated the global economy due to the massive slowdown associated with the pandemic.

However, in 2021, global deflation began to decline and inflation in Iran surpassed its level in 2019.

food prices

The Iranian Labor News Agency (ILNA) had sued the head of the Association of Wholesale Food Traders in Iran, stating that prices have risen between 30% and 90%, in the five months (March-August 2021) 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.

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