Prices continue to rise in Iran’s market a week after country-wide protests

As the country-wide protests end in Iran, official reports indicate that inflation and prices in the market are on the rise due to the gasoline price-hike two weeks ago.

The most recent report by Iran’s Center for Statistics shows the rate of inflation in the country has reached to 41.1 percent.

In the past 12 months, inflation rate for food, drinks, and tobacco was 53 percent for the top 10 percent and almost 61 percent for the bottom 10 percent of the society.

According to MP Rahim Zare’ member of the economic committee of the parliament, during this time, the truck fares have increased by 100 percent, taxis and city transportations by 30 percent, tomato by 700 percent, fish by 25 percent, import rice by 25 percent, and eggs by 6 percent.

Reports also indicate that real estate purchases have dropped by 40 percent, and the price of every residential square meter in Tehran has increased by 35 percent, and rent has increased by 31.7 percent in all cities compared to the same time last year.

The price of the Euro and the Dollar have also increased by 2.5 percent two weeks after the gasoline price-hike.

Previously, the Minister of Roads and City Planning had announced that the gasoline price-hike will have no impact on the transportation fares. After it was confirmed that the fares have gone up, the minister said: “The gasoline price-hike cause the fares to go up, but it shouldn’t have.”

President Hassan Rouhani had previously claimed that the gasoline price-hike was a plan to help the lower and impoverished classes, but according to the Intelligence Ministry reports, most of the protesters arrested in the past two weeks were unemployed or low-income.

 

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