Inflation Stagnates Above 30 Percent; Controlling Inflation Becomes More Difficult

According to the latest statistics released by government agencies regarding inflation in August, it has been claimed that the point-to-point inflation rate remains above 30 percent, having only decreased by 0.6 percent to 31.6 percent. This slight decrease, experts say, is primarily due to the relative control of 'short-term political risks' and cannot be sustained. The newspaper 'Donya-e-Eqtesad' reported today, Saturday, September 3, that 'it seems that the Central Bank will face tough challenges in controlling inflation, especially considering currency fluctuations and political issues.' This newspaper emphasized that 'political risks continue to pose a threat to the economic stability of the country and may affect the inflation situation in the coming months.' An economic journalist also mentioned the contribution of housing to the inflation in August, stating that there is no positive outlook in the economic sector. Reza Ghaibi referred to the statements of Abbas Araghchi, the foreign minister of the Rouhani administration, saying, 'The minister's approach indicates the continuation and even intensification of political risks in the economic sector, and one should not be hopeful for improvement.' According to Ghaibi, the prioritization of China and Russia by the Islamic Republic means continued overhead costs in the economy due to barter and the imposition of Chinese goods, as well as a lack of access to necessary foreign currency resources for importing raw materials and capital goods. This economic journalist's reference is to Araghchi's statements last night, in which he deemed the JCPOA 'irreparable' and stated that the Islamic Republic's policy is 'not to resolve conflicts with the U.S.' Araghchi also emphasized that China and Russia are priorities for the Islamic Republic. This approach of the Rouhani administration comes at a time when Iran's economy is in the worst condition it has faced in decades due to sanctions, and there are whispers of intensifying sanctions. In this context, a number of Iranian activists, including some political prisoners, on August 30, wrote a letter to Joe Biden, the President of the United States, criticizing his administration's stance towards the Islamic Republic and calling for 'heavy and comprehensive sanctions' against the Iranian government by the U.S. and Europe, with the lifting of these sanctions 'only on the condition of full respect for human rights' by the Islamic Republic. The letter from 50 civil and political activists to Biden: 'Impose heavy and comprehensive sanctions' on the Iranian government. Housing loans and deposits have increased, landlords have raised rents by 50 percent. The 'worrisome' outlook for employment in Iran in 1410; only 3 million job opportunities have been created in the past 20 years. Bread has become expensive 'informally' in the capital; livelihoods are heading towards crisis. Housing rents continue to break records; ISNA reported a 70 percent increase in Tehran.