Wednesday 16th Oct 2019 

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News: Iran Economy

Unprecedented Rate of Inflation Reported in Iran

Unprecedented Rate of Inflation Reported in Iran

Iran's inflation rate in the 12-month period ending July 2019 stands at 40.4 percent, according to the Statistical Center of Iran.

The state-run SCI also reported on July 24 that Iran's point-to-point inflation rate, which reflects price increase compared to the same time in the previous year, has reached 48 percent.

The SCI added that in June, the point-to-point inflation rate was 50.4 percent.

The report further highlighted huge price hikes for food items in Iran.

It said the price of meat has risen 95.4 percent. The price of bread is up 44.2 percent. Dairy products and eggs are up 60.2 percent.

Iranian people have been protesting against corruption, economic mismanagement and suppression by the mullahs' regime since December 2017. In many of the protests, there have been chants for regime change in Iran.

Iranian opposition leader Maryam Rajavi has said that the only way out of economic and social problems in Iran is the overthrow of the mullahs’ regime.

“Iran’s assets are either spent on suppression, export of terrorism and external wars instead of economic growth and social welfare, or plundered by the ruling mullahs,” Maryam Rajavi has said.

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