Current State of the Iranian Economy
Calling all Iranian nationalists who claim Iran is winning against the US
[Anchor]
Red lights are flashing on the Iranian economy.
As inflation skyrockets due to US sanctions, the daily lives of ordinary citizens have been hit directly.
People are pouring their entire day's earnings just to afford a single yogurt and a cola.
Videos like this are flooding the internet, attempting to reveal the internal reality.
Reporter Song Jeong-hyeon reports.
[Reporter]
This is a video from inside Iran that has been spreading through social media recently.
People lament that a single yogurt and a cola cost 5.37 million Rials in Iranian currency.
Even though the amount is just slightly over 2 dollars, voices of self-deprecation are emerging.
[On-site audio]
"Truly, the world's greatest Islamic Republic."
As of this year, the monthly minimum wage in Iran is approximately 166 million Rials, which is about 70 dollars.
On a daily basis, this is around 2 to 3 dollars, meaning that after buying yogurt and a cola, there is almost no money left to spend.
[On-site audio]
"(The chocolate bar) was 300,000 Rials last week, but it became 400,000 Rials this week. Do they think people can actually afford this?"
[On-site audio]
"Non-alcoholic beer and a small sausage for 1.15 million Rials. They should be ashamed."
According to the Statistical Center of Iran, food and beverage prices rose by 127% during the month of August alone.
This is because the import prices of daily necessities, which rely heavily on smuggling, have skyrocketed due to the prolonged economic crisis and exchange rate surge caused by the ongoing conflict with the US.
The exchange rate, which was around 1.5 million Rials per dollar just before the conflict began, jumped about 70% to 2.6 million Rials as of yesterday, with a particularly steep rise recently.
The day before yesterday in southern Iran, security forces raided an anti-government hideout, resulting in a gunfight, showing that the aftermath of the conflict is deeply penetrating both Iran's economy and public security.
This is Song Jeong-hyeon from Channel A News.
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