The head of the Association of Building Materials Sellers announced that cement prices have increased by more than 90% since March, with the price of each bag of cement in the retail market reaching around 3 million rials (approximately $1.50).
At the same time, Esmaeil Kazemi Ghahi reported a severe recession in the construction market, saying that the decline in construction activity has prevented a significant increase in demand for building materials.
The 90% increase in cement prices has occurred while the housing and construction market is in recession, another sign of an economy in which prices surge even without an increase in demand, while the cost of the Iranian regime’s inefficiency is borne directly by the people.
According to Kazemi Ghahi, cement prices on the stock exchange fell by around 1% over the past week, but this negligible decline did not alter the sharp surge in prices.
