‘Red meat is a dream’: Iran inflation hits highest level since World War II
Summary
Inflation in Iran has reached its highest level since World War II, causing sharp price increases for everyday goods like rice, cooking oil, meat, and eggs. Many Iranians, including retirees and families, are struggling to afford basic food items as their incomes no longer cover household expenses.Key Facts
- Inflation in Iran hit 77.2% annually between April 21 and May 20, with monthly inflation at 8.5%.
- Prices of basic food items, such as rice and cooking oil, have more than doubled within a year.
- A kilo of rice cost about 1.8 million rials ($1.31) a year ago; it now costs over 5 million rials ($3.63).
- Cooking oil rose from 700,000 rials ($0.51) to more than 3 million rials ($2.18).
- Many people, including pensioners and employees, are living below the poverty line for the first time in decades.
- Households are making more frequent shopping trips to compare prices and find affordable goods.
- Meat has become too expensive for most families, and even eggs are being counted carefully.
- Shop owners report customers buying only essentials, leading to reduced quantities and financial difficulties for sellers.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.