ICBPS– Iran’s June average inflation rate reached 6.4 percent, compared to May [with a figure equivalent to 2 percent]. It indicates that Iran’s [average] inflation rate in June has tripled.
According to the previous Statistical Center of Iran (SCI), the inflation rate in the 12-month period ending March 20, 2020, for essential items such as foodstuff, drinking water, beverages, and tobacco products passed the 42 percent mark.
The average monthly net expenditure of Iranian urban households, including transportation, in the Iranian calendar month of Tir (ended on July 21) increased by 27 percent compared to the same month last year.
In late June, SCI reported that the annual cost of Iranian urban households is estimated to be about $11,300, while the average annual income of a household in the mentioned period was estimated at about $12,800, 24.4 percent more than the to the same period last year.
As one of the world’s highest inflation rates, Iran ranked fourth as prices of 475 goods are rising at a rate of 26 percent, reported SCI.
Iran took place on the list among the countries with the highest inflation rates after Venezuela, Zimbabwe, and South Sudan.
In August 2019, Iran ranked sixth with an alleged average annual inflation hit 42.2 percent, up from 40.4 percent in July.
The Islamic Republic of Iran’s officials announced [in August] a plan to cut four zeros from Iranian currency Rial, and change its name to the Toman, in an alleged attempt to reset its ailing economy.
The Iranian currency was set to get a new name after the regime’s lawmakers passed the bill.
Since April 2018, Iran’s annual average’ [year–to–year inflation] has risen steadily from 8 percent in April 2018 to 40.4 percent in July 2019, according to FDD’s Senior Iran and Financial Economics Advisor, Saeed Ghasseminezhad.
In the May report of SCI, the overall inflation rate rose from 34 to 37 percent in comparison with 2019 for various subcategories. The report also set the rate of inflation in the non-food and services categories at 31.4 percent during the same period.
Experts express concern about the dire situation [based on the ongoing rampant inflation] and forecast that Iran’s annual average inflation [in 2020] would hit an unprecedented 56 percent.
Iran faces rising foodstuff prices and food shortages; theological tyrants run out of options to help stem the costs.
As Iranians have stuck in a state of limbo, struggling to survive from hand to mouth, IRI’s kleptocrats spend the billions of windfall cash, provided by the so-called Iran Deal, on “War Games” and fund proxies for its global terror, and role in destabilizing the Middle East.
The theocrats have never spent Iran’s national treasure on the Iranian people but instead enriched themselves and militants. As IRI’s officials have [continuously] emphasized 80 percent of problems in Iran caused by mismanagement and corruption, not sanctions, more pressure must be applied to the repressive regime, not less.