Lebensmittelpreise im Iran steigen weiter
Prices for essential food items continued to grow in Iran last month, with red meat registering an 82-percent jump compared to the same month one year ago.
The galloping inflation report published by the Statistical Center of Iran (SCI), a government outfit, comes after warnings last week that a $14 billion government outlay for importing food and medicine next year will be insufficient to address needs.
In Iran’s closed economic system importers have no direct access to foreign currencies and can only receive US dollars or euros from the government. Local media have pointed out that $14 billion proposed in next year’s budget for food and medicine would only be enough for importing essential food such as grains and protein sources but cannot also pay for medicine.
According to the SCI report, other food items also experienced serious inflation. Prices of fish increased by 72 percent compared with prices in October-November 2022. Overall, the point-to-point inflation rate for a basket of essential daily needs was almost 40 percent.
Other recent reports have put the inflation rate at more than 50 percent. Also, overall inflation for retail food prices was reported to be 37 percent.
Despite higher oil exports this year, the Iranian government seems unable to lower inflation and its restrictive foreign currency policies continue. The national currency rial, still hovers around its all-time low of 500,000 per US dollar, a 12-fold fall in value since early 2018 when the United States withdrew from the JCPOA nuclear deal and imposed economic sanctions on Iran.