Iranian President Masoud Pezeshkian on Sunday attempted to quell the protests that have been spreading across Iran since the end of December by saying that his government was determined to address the country’s economic malaise.

In a state television address, the president said that the protesters had legitimate demands and said that the authorities were prepared to listen to the demonstrators’ concerns. He pledged to address the country’s mounting economic grievances but did not lay out a detailed package of measures beyond his general statements of intent.

The unrest poses an early challenge for Pezeshkian, who took office in July 2024 having promised economic reform and a more receptive approach to public grievances yet remains constrained by Iran’s power structure.

Background: The protests in Iran erupted on Dec. 28 and have since spread to more than 180 cities nationwide. They were initially driven by deepening economic distress, as the Iranian rial plunged to record lows and inflation surged, sending the price of basic goods such as food and fuel soaring. The currency’s collapse forced merchants at Tehran’s Grand Bazaar to shutter their shops amid rising costs, helping ignite the unrest. Official figures show inflation hit 52.6% in December. That same month, food prices rose by 72% and health and medical goods increased by 50% year over year. On Monday, the rial fell to a record low of around 1.4 million per dollar, amid the protests and ongoing international sanctions on Iran over the government's nuclear program and human rights violations.

While the protests were initially driven by economic grievances, they have since broadened into open opposition to the government. Anger has grown over the state’s crackdown and human rights abuses, with demonstrators chanting slogans such as “Death to Khamenei,” a reference to Supreme Leader Ayatollah Ali Khamenei.