Inflation hits new high, Iran’s Statistical Center says
Iran's inflation has hit a new peak this year, with the Statistical Center of Iran reporting a general inflation rate of over 35% for February, the highest since last winter.
Iran's inflation has hit a new peak this year, with the Statistical Center of Iran reporting a general inflation rate of over 35% for February, the highest since last winter.
The surge, marked by a monthly inflation exceeding 4% for the first time in the past year, has exacerbated the widespread public discontent, especially as food prices skyrocket. Hundreds of Iranian have sent messages to Iran International complaining about soaring prices.
Official data reveals that food costs are the primary driver of inflation, with rural areas experiencing a higher rate (36%) than urban centers (35.2%). Low-income households are bearing the brunt of this economic strain, particularly in provinces like Semnan, West Azarbaijan, and Hormozgan.
"The point-to-point inflation rate, indicating how much household expenses have changed compared to last year, reached 35.3% in the Persian calendar month of Bahman (ended on February 18)," said the Statistical Center. "This marks the highest inflation rate in 12 months."
Vegetables and legumes saw a staggering 16.9% monthly inflation, while fruits and nuts rose by 8.7%. Conversely, education saw the lowest monthly inflation, below 1%.
Annual inflation has risen by around 40 percent, each year in the past five years, and the rial has lost 95% of its value since 2018 when Donald Trump withdrew from the 2015 nuclear deal and re-imposed draconian sanctions on the country.
The massive depreciation of the rial and high inflation have drastically increased the cost of living, including expenses for food, housing, and healthcare and driven over 30 percent of the population below the poverty line.
Citizens engaging with Iran International have corroborated these findings, sending videos depicting a sharp rise in essential goods prices.
