The Statistical Center of Iran reported that the annual inflation reached 62 percent, and food inflation hit 133 percent.
The Statistical Center of Iran announced that the annual inflation rate for households in the country reached 62 percent in June, which is an increase of 59 percentage points compared to May.
According to this report, the point-to-point inflation also reached 886 percent. Additionally, the point-to-point inflation for food items was reported to be over 133 percent, meaning that households have paid more than twice the cost for similar items compared to June of the previous year.
While high inflation has consistently been one of the challenges for Iran’s economy over the past decades, citizens have recently faced a new wave of price increases.
This trend has intensified following the currency rate surge in January, protests and subsequent crackdowns, the war, the blockade of the Strait of Hormuz, internet shutdowns, and rising unemployment.
As a result of these conditions, some citizens have turned to selling assets like gold to cover living expenses.
