Rising Prices Put the New Year's Market into a Coma

Iranian media reports indicate that the heavy shadow of recession and rising prices has significantly reduced demand in the New Year's market. The website Etemad Online reported that due to weak government oversight and insufficient support for domestic producers, excessive exports of certain nuts like pistachios have exacerbated price increases ahead of Nowruz. According to the report, the price of mixed nuts from Tabriz has reached 1,650,000 tomans per kilogram, while festive nuts have reached 1,300,000 tomans per kilogram. The website Tabnak also noted the turmoil in the New Year's market, stating that the heavy recession has not prevented price increases, with the latest inflation statistics showing a monthly growth of 7.8% in the dried fruit category, one of the highest inflation rates among food items. Meanwhile, the Minister of Agriculture has confirmed the rising prices, stating that 'the increase in prices is natural.' On March 2, Gholamreza Nouri Qazaljeh mentioned in a meeting with governors that the prices of legumes and tea have significantly increased, with imports previously costing 28,500 tomans per dollar now costing around 68,000 tomans, resulting in a 2.5-fold price increase. He emphasized that these decisions must be defended and should not solely be blamed for the price increases during Nowruz. Market actors and experts attribute part of the current price hikes to currency rates and express concerns about future prices. In this context, political activist Mohammad Hashemi warned that the exchange rate might reach 110,000 tomans by Nowruz and could continue to rise afterward. He indicated that this situation reflects economic instability requiring effective and constructive interactions with various countries, particularly the West, which Supreme Leader Ali Khamenei opposes. Consequently, experts and economic activists predict tough days ahead for Iran's economy. Economic activist Hossein Salahvarzi stated in an interview that Trump's maximum pressure policies will strain China, Iran's sole oil buyer. He expects a significant drop in Iran's oil sales to international markets below 500,000 barrels, leading to a serious decline in government revenues. Thus, the government will face serious challenges in meeting the country's basic needs. Complaints from a worker about low wages and the high price of poor-quality fruit, a citizen's protest against rising food prices and increasing inflation, a protest by retirees in Shush stating 'inflation and rising prices are killing people,' intensifying inflation in Iran, fears of economic collapse, and proposals for wartime measures are all highlighted. Some patients with special needs are selling their rare medicines due to poverty, while imported goods face 53% inflation, showcasing the ineffectiveness of governance in Iran. The government has retreated from its previous decision regarding the exchange rate of essential goods, and the 'rising dollar' has broken the backs of retirees, benefiting only embezzlers.