Brief by Shorts91 Newsdesk / 05:01pm on 02 Jun 2026,Tuesday International
Iran’s year-on-year inflation reached 77.2% in May, the highest level since World War II, according to the Central Bank. Prices for everyday essentials, including medicine, transport and communication services, surged 113.8% from a year earlier. The economic crisis has been intensified by damage from recent airstrikes, disruption to the oil industry and a US naval blockade targeting Iranian crude exports. Tax revenues have weakened as businesses struggle, while the rial has collapsed from 32,000 per US dollar in 2015 to over 1.7 million today. Analysts warn inflation could approach 80%, raising fears of renewed nationwide protests driven by worsening living costs and public hardship. (PC: AP/PTI)
