Inflation in Iran increased 1.1% in late November to reach an annual rate of 44%, according to the Iran Chamber of Commerce. The chamber attributed the rise in inflation in recent years to the effects of US sanctions.
Why it matters: Inflation has increased significantly in Iran this year, and people are struggling with the reduced purchasing power. Al-Monitor contributor Ali Dadpay noted in July that some observers blame the US sanctions. However, he also pointed to the Iranian government’s decision to drop the official exchange rate of 42,000 rials to the US dollar for necessities and food.