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Iran inflation nears 89% in June
Inflation in Iran accelerated sharply in June to reach a record high of 88.6% year-on-year, driven by the effects of war and sanctions. Food prices have more than doubled, especially bread and meats, compared to the same period last year. Inflation was 68% in February, prior to the start of the war launched by the United States and Israel. Additionally, the economy is suffering from a decline in the value of the rial and a erosion of Iranians' purchasing power, as the economic crisis has continued to worsen over the years.
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