Iran's war fuels record inflation

Inflation rates in Iran rose to a record high of 88.6% year-on-year in June, driven by the worsening economic crisis caused by the war and sanctions. Food prices more than doubled during June compared to the same month last year, while the value of the local currency plummeted to historic lows, increasing pressure on citizens and businesses, especially small and medium-sized enterprises facing rising production costs and declining demand, alongside a growing number of people applying for unemployment benefits.

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