Iran Breaks 80-Year Inflation Record

World 09:57 02.05.2024

Iran has shattered its 80-year inflation record, raising concerns about the country's economic stability. According to a report by Ednews citing "Fararu" newspaper, despite the promises made during President Ibrahim Raisi's election campaign and the directives from Supreme Leader Ali Khamenei, inflation has surged by a staggering 52% under the current administration.

The previous inflation peak stood at 49.4 percent during the tenure of former President Ali Akbar Hashemi Rafsanjani, as reported by the Central Bank. Efforts to rein in inflation have been underway since May 2023 when various institutions were issued 10 directives aimed at controlling inflation and stimulating production growth. However, these measures seem to have fallen short of their intended impact.

The unprecedented rise in inflation has raised concerns among Iranians about the purchasing power of their currency and the overall economic outlook. As the government grapples with this economic challenge, citizens await further actions to address the soaring inflation rates and alleviate the financial burdens faced by the population.

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