Iran inflation soars amid US conflict, rial weakens further

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The conflict between Iran and the United States is worsening the country’s economic situation, with inflation reaching 87.9% in August. Food prices have particularly surged, with an inflation rate of 105%. The national currency has significantly depreciated, with the US dollar trading at approximately 1.88 million rials on parallel markets in Tehran. These economic hardships could have repercussions on global oil markets and political stability in Iran.

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