Speaking of inflation, Iran’s not doing so well, either:
Iran’s official inflation rate is reaching new highs. The Statistical Center of Iran (SCI) — the country’s main statistics agency — reported a monthly inflation rate of 12.2% and a point-to-point rate of 52.5% for the Iranian month ending June 21. Both are record numbers.
The monthly inflation rate reports the changes in the consumer price index — based on a set basket of commodities — within the 30 days from May 22 to June 21. An average Iranian family lost 10% of its shopping power within this 30-day period. Iranian consumers are paying 50% more for the same products compared to spring 2021. The loss of real income and purchasing power for many Iranian families is significant and irreversible. [AL-Monitor]
An annual inflation rate of 52.5% for Iran, if I understand that correctly, vs a current rate of 9.1% for the United States. I’ll be interested in the post-analysis, maybe five years from now, and not so much the frenzied claims of pundits and economists of today.
