Iranian families are cutting back on food and other essentials as sanctions, war and a naval blockade deepen economic pressure, the Associated Press reported.
Rice prices are 60% higher and beef prices 150% higher than before the war, while inflation is expected to approach 70% by year-end and the economy to shrink by more than 5%, according to the report.
The money workers earn is worth about half as much as a year ago, putting food, medicine and other essentials further out of reach. Iran is also consuming more gasoline each day than it produces and may need to raise prices as supplies tighten, according to the report.
Malek Hosseini, Iran’s deputy labor minister for entrepreneurship and employment development, said more than 1 million formal-sector jobs had been lost during the 40-day war, the semi-official Mehr News Agency reported.