Iran Economy NewsIran: Prices Soar on Verge of Yalda Celebrations

Iran: Prices Soar on Verge of Yalda Celebrations

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In Iran, prices are soaring on the eve of the longest night of the year, known as Yalda. Iranian media outlets have been examining the market conditions and people’s purchasing power for celebrating this festival, but reports indicate a lack of hope and only highlight the resentment and high prices associated with the arrival of Yalda.

The state-run ILNA news agency reported on the Yalda market, stating, “By roaming through the market, we observe various prices for fruits, sweets, and nuts. Citizens are merely spectators, and according to market sellers, most people only ask the prices and do not make purchases.”

ILNA also referred to statistics from the Ministry of Industry, Mine, and Trade, indicating a 30 percent average increase in commodity prices from the beginning of the year until now. Some items have even experienced a 60 percent increase.

This is just part of the story. On the other hand, Amir Tanabi, the head of the Association of Dried Fruit and Nut Sellers in Urmia (northwest Iran), said, “People are adjusting their lives to cope with societal inflation and no longer have the purchasing power for buying nuts as they did in the past.”

Amir Tanabi emphasized that sales have drastically declined, and at present, bulk nut sellers are facing difficulties in procuring nuts.

Mohammad Aghaverdi-Zadeh, the head of the Confectionery Union in Urmia, also reported a 50 percent increase in the prices of raw materials such as sugar, oil, especially various types of nuts, coconuts, and chocolates used in confectionery production.

According to Aghavardi-Zadeh, the price of one kilogram of confectionery has reached 2 million rials (approximately $4), and other pastries have reached 2.5 million rials (approximately $5).

The Director-General of Industry, Mine, and Trade in West Azerbaijan, in an interview with ILNA news agency, announced the implementation of a monitoring plan for the Yalda market in the province and stated, “The execution of this plan will continue in the province until December 21.”

Reviewing the statistics published by the Statistical Center indicates that in the second month of autumn, the annual inflation rate for households in the country reached 44.9 percent. This is while the wage increases this year was 27 percent, and employees and workers are facing livelihood problems.

Currently, the average monthly wage of workers is around 80 million rials (approximately $159), and according to media reports, the poverty line in the country has exceeded 200 million rials (approximately $397), and in Tehran, it has exceeded 300 million rials (approximately $595).

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