"Protests about the soaring cost of living in Iran have entered their sixth day after the rial plunged to a record low against the United States dollar in late December. After a number of deaths as a result of clashes between protesters and security services, the government of President Masoud Pezeshkian appealed for unity and blamed economic pressure on what he said are Tehran's enemies. Despite government promises to enact economic reforms and put more effort into tackling corruption, the protests have continued."
"A range of international restrictions means that Tehran is struggling to access international financial markets and frozen foreign assets. The country's increasing reliance on imports is exacerbating the situation and fuelling inflation. On Sunday, the Iranian rial dropped to 1.42 million against the US dollar a 56 percent drop in value in just six months. The plummeting currency has driven inflation with food prices soaring by an average of 72 percent compared with last year."
Widespread protests across Iran began as shopkeepers shuttered businesses over an economic crisis and have expanded nationwide. The rial plunged to record lows, falling 56 percent to about 1.42 million per US dollar, driving inflation. Food prices have risen an average of 72 percent year-on-year, with dairy and other staples increasing multiple-fold. International sanctions and frozen assets limit access to foreign markets and deepen import dependence, worsening price pressures. Clashes between protesters and security forces have caused deaths and arrests. Government appeals for unity and promises of reforms have not halted the unrest, which now includes political demands.
Read at www.aljazeera.com
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