As the economic situation continues to deteriorate and public dissatisfaction over declining purchasing power grows, data from state-run centers shows that food prices have increased by as much as 168% during the first eight months of the administration of Masoud Pezeshkian, president of the Iranian regime.
Reports indicate that the price of potatoes rose by 168%, pinto beans by 124%, and pasteurized butter by 80%.
The state-run Shargh newspaper reported that the legume market has reached a “crisis point” due to the elimination of preferential currency rates, temporary policies, and lack of planning, stating that in recent weeks, the market has experienced one of its sharpest price shocks.
Shargh emphasized that the price hikes have not been driven by consumer demand or global price trends and added that the crisis stems from the sudden removal of preferential currency, failure to forecast demand, and lack of effective policymaking within the government.
Unprecedented Spike in Legume Prices
Shargh, citing field reports from markets, stated: “The prices of items like chickpeas, red beans, split peas, and lentils have surged by over 100% within just two months, even though actual consumer demand for these products has not changed significantly.”
According to the report, the price of a 900-gram pack of chickpeas, which was about 940,000 rials (approximately $1.13) in March, rose by 141% to 2.28 million rials (about $2.74). The price of split peas also jumped by 119%, from 1.05 million rials to 2.3 million rials.
Removal of Preferential Currency Disrupts Balance in Legume Market
On May 4, the state-run Tejarat News described the unprecedented rise in legume prices as one of the major challenges in the food market, reporting that in recent months, the prices of chickpeas, split peas, lentils, and beans have more than doubled.
Mohammadreza Torabi Mousavi, deputy head of the Agriculture Commission of Iranian regime’s Chamber of Commerce, told Tejarat News that the spike in legume prices is due to the removal of preferential currency from legume imports, adding that under such conditions, prices of most goods previously imported under preferential currency have increased dramatically.
In response to a question about the continued rise in legume prices despite a drop in exchange rates, Torabi added: “In Iran, when the exchange rate rises, prices of various goods, from cars to legumes and others, go up. But when the rate decreases, prices do not change.”
He added: “The importer’s justification is that the goods were brought in at a high exchange rate, and there is no guarantee that the currency rate will remain stable.”
Meanwhile, the state-run Bahar News reported on May 4 that, following a sharp rise in laptop prices in Iran’s market, many individuals and businesses have turned to renting these devices instead of purchasing them.
According to the report, laptop rental prices vary by model, starting from around 800,000 rials (approximately $1) per day and going up to 6 million rials.
