With the approach of the final days of the Iranian year (March 21), a new wave of price hikes has emerged in the food and essential goods market, while the Iranian regime has prioritized “punitive actions against businesses” instead of addressing the root causes of inflation.
Some experts believe that the regime’s security-driven and punitive approach to market regulation stems from its inability to control inflation.
In this regard, the website Eghtesaad24 wrote that it is unclear whether the government’s plans for market regulation ahead of Nowruz only involve “stronger enforcement of price control measures and fines for shopkeepers” or if they also include broader plans such as increasing the supply of quality goods in all sectors to bring down prices.
Severe Inflation and Economic Instability Overshadow Iran’s Nowruz Market
Analysts argue that, unlike previous years when increased demand led to price hikes, this year, demand for most goods has declined, yet prices continue to rise.
The regime-affiliated ISNA news agency also claimed: Ahead of Nowruz, the Ministry of Agriculture has announced the sufficient supply of essential goods and is implementing new policies, including price regulation for imported rice, changing the source of meat imports, and planning to control potato exports to maintain market stability.
According to officials of the Iranian regime, the country’s reserves of essential goods exceed its needs, and people can do their Nowruz shopping without concern.
However, official reports indicate a sharp rise in prices. According to data from the Statistical Center of Iran, in the past six months, the point-to-point inflation rates have been: 58% for split peas, 45% for chickpeas, 33% for lentils, 32% for red beans, 15% for almond kernels, 13% for walnut kernels, and 7% for pistachio kernels.
Meanwhile, reports show that the prices of some goods have surged with the start of Ramadan. Contrary to officials’ claims about market regulation during Ramadan and Nowruz, prices continue to rise due to turbulence in the foreign exchange market.
The instability in the currency market and rising food prices have become one of Iran’s economic crises. Many experts believe that if this trend continues, a large portion of society will be forced below the poverty line.
In this regard, Moslem Salehi, a member of the Social Commission of the Iranian regime’s Majlis (parliament) has stated that the government must take serious control and management of the essential goods market in the final days of the year.
Salehi emphasized that the latest inflation data shows that inflation remains high and that the government has not succeeded in curbing it.
