Inflation Rate of Imported Goods to Iran Reaches 150 Percent

Iran’s Statistical Center announced that the inflation rate of imported goods prices in the 12-month period ending in spring 1398, was approximately 150 percent.

According to a report published on Iran’s Statistical Center website, the changes in the average price index of imported goods based on real currency data in the four quarters ending in spring 1398 amounted to 149.7 percent, which showed an increase of more than 38 percentage points compared to the annual inflation rate of winter 1397.

The sharp increase in imported goods prices occurred after the dollar exchange rate in Iranian markets rose from approximately 4,000 tomans in fall 1396 to around 14,000 tomans and at times higher in 1397, followed by another wave of sharp price increases for goods in the Iranian market.

The economic crisis and disorder in Iran over the past two years created widespread criticism and dissatisfaction, which at one point led to nationwide protests in December 1396.

The continuation of economic turmoil in Iran comes as the United States has repeatedly condemned systemic financial corruption and the plundering of Iran’s natural resources by those affiliated with the ruling regime, considering them among the main factors of Iran’s economic and financial problems.

Previously, Mike Pompeo, the U.S. Secretary of State, had tweeted about Islamic Republic officials that they have engaged in corruption instead of helping the people.

Source: Voice of America