Iran’s official inflation statistics shows a 5 to 230% increase in the price of food compared to the same month last year.
According to the state-run ISNA state-run news agency, the Statistical Center of Iran’s new numbers on inflation for the Persian month of Bahman (Jan. 21- Feb. 19) indicate that all food prices have increased compared to the same time period last year.
The highest price increase was for tomato paste with a 231.1% increase, yellow apples with a 128% increase, tomatoes with a 127.9% increase, bananas which had gone up by 103.1%, and lamb meat which saw a 97.8% increase.
Also, the highest price increase in Bahman compared to the previous month was for onions, increased by 22.1%, cucumbers, increased by 21.3%, tomatoes increased by 20.1%, and lamb meat which rose by 15.6%.
According to the report, the average price of lamb meat for Bahman was around 80,000 tomans, beef and cattle was 72,000 tomans, poultry was 13,000 tomans, bananas was 12,600 and tomato paste was around 18,600 tomans.
According to the latest figures calculated by Professor Steve Hanke, Applied Economist at John Hopkins University, Iran’s annual inflation is 212%.
#Iran, a centrally planned economy, has soaring inflation. As I measure it for today, Iran's inflation rate is 212%/yr. Like clockwork, more gov't= higher inflation. pic.twitter.com/teThJn8x3J
— Prof. Steve Hanke (@steve_hanke) February 27, 2019
However, food isn’t the only commodity which has seen a soar in prices.
The Revolutionary Guards Corps affiliated Tasnim news agency announced today that city bus fares would also increase by 20% from March 16, a few days before the Nowruz holidays when Iranians travel the most to visit family members.
Despite the fact that Iran is one of the most important mineral producers in the world, ranked among 15 major mineral-rich countries, holding some 68 types of minerals, 37 billion tons of proven reserves and more than 57 billion tons of potential reserves worth $770 billion in 2014, it ranks 108 from 149 countries in terms of social welfare.
The paychecks of Iran’s laborers, less than $100 a month, is one of the lowest in the world.
According to the assistant head of the East Azerbaijan Coordination Center for Islamic Labor Councils, the current worker’s wages was only enough for 28% of the workers’ basic needs.
“More than 14 million workers will enter the new year with 72% delayed paychecks,” Habib Sadeghzadeh Tabrizi said adding that a wage increase in the New Year could restore the livelihood conditions of workers.
Source » irannewswire