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New Supreme Leader Mojtaba Khamenei said the country must defeat its enemies in the economic and cultural war, as well as in the military.
Tehran, Iran – Prices are rising in Iran, and millions of jobs have been lost or put on hold as the war with the US and Israel causes economic damage.
Food and medicine, cars, electronics and petrochemical products are among the many items that Iranians need to pay more for this Saturday, the first day of the working week, than last week.
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The toxic combination of local mismanagement, Iran’s nuclear arsenal, US sanctions and the naval blockade, and complete shutdown of the Internet imposed by the authorities in Tehran – now in its 64th day – is disrupting the economy of the country of more than 90 million people.
The country’s currency, the rial, has reached a record low of 1.84 million against the US dollar on the open market in Tehran. Stocks were limited amid market volatility.
The same thing is happening in other markets, where sellers and customers do not know what to do because of the uncertainty of how bad things will get, and whether new ones will come.
Amidst the reductions or suspensions, some vendors were raising prices at a pace not seen in more than a decade of global highs.
The 256GB iPhone 17 Pro Max, priced by Apple at $1,200 in the US, was being offered for around $5 billion ($2,750) by other stores in the capital. Some simply refused to sell.
The Peugeot 206, an inexpensive French passenger car that is also produced and popular in Iran, costs 30 billion dollars ($16,500).
Imported cars are hard to come by, and are being sold at exorbitant prices, sometimes five times the price in neighboring markets such as the United Arab Emirates.
State television confirmed the “daily” price increase in the car market in a report on Friday, but criticized the “psychological” reasons associated with the increase in prices and “false prices” published by greedy sellers trying to make a profit from the chaos.
The monthly minimum wage in Iran is currently less than 170 million rials ($92), and that’s where the government raised about 60 percent of the current wage. Persian calendar year which started on March 21. The government is also giving money to help with food and basic necessities of less than $10 per month per person.
“You look at prices and wages, and you see that the numbers don’t add up,” said one resident in Tehran who asked not to be named.
“There’s not much you can do unless you convert what little you have into something that isn’t cheap or buy something you want that you can’t afford later.”
‘Peaks of progress’
The government of President Masoud Pezeshkian has not released any information on the number of people who have lost their money.
But from technology companies in Tehran to large steel producers in Isfahan, many of the largest companies operating in the country have been forced to lay off workers.
A statement by Supreme Leader Mojtaba Khamenei on Friday said the Islamic Republic had “proved to the whole world the extent of its power in the armed struggle”.
Now, he said, the theocracy and military establishment must “depress and defeat the enemy” in the economic and cultural war.
Khamenei, who has not been seen or heard in person since becoming Supreme Leader Ayatollah Ali Khamenei after he was killed on the first day of the war, said businesses should avoid firing workers as much as possible, adding that Iran was “walking the path to the peak of progress and progress”.
