Poverty spikes in Iran as prices for essential goods rise
Inflation in Iran continues unabated, forcing further economic pressure and poverty on low-income households.
Recently released figures on the cost of essential items for lower-income segments in Iran show that the rise in the price of these items — predominantly food products — has indeed put a lot of pressure on vulnerable groups in the country.
During the period from March 2019 to September 2020, Iranians have witnessed prices of goods skyrocket from 55% to more than 100%, according to a study published in October by the Institute for Trade Studies and Research, a think tank under the Ministry of Industry, Mine and Trade. For instance, pasta, imported rice and legumes have increased in price by more than 100%. Tea, sugar, Iranian rice, eggs and dairy products have seen prices rise between 60% and 91%. Of note, the point-to-point inflation rate for the seventh month of the Iranian year (Sept. 23-Oct. 22) stood at 41.4%, according to a report posted by the Statistics Center of Iran, whereas monthly inflation touched 7% in the same period, experiencing a 3.4 percentage points rise in comparison with the previous month.
