- The Washington Times - Wednesday, May 22, 2019

Iran’s official inflation rate for the 12 months ending in mid-May reached 34.2 percent, another sign that President Trump’s pressure campaign on Tehran is having a major impact on the economy.

In a measure of the hardship ordinary Iranians are feeling, the Statistical Center of Iran also announced Wednesday that the average Iranian household is now paying on average 52.1 percent more than in the same month in 2018 for the same basket of commodities and services, according to the semi-official Islamic Republic News Agency.

Iran’s economy has been under severe stress since the Trump administration pulled out of the 2015 international nuclear deal and re-imposed sanctions on the country’s critical energy and metals sectors. The U.S. ended waivers for some of Iran’s biggest oil customers earlier this month.

The Iranian economy shrank by 3.9 percent last year, sparking consumer riots in a number of cities. A top International Monetary Fund officials last month predicted Iran’s economy will contract again this and that inflation could top 40 percent.

Copyright © 2019 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide