Iran's Economic Crisis Hits Record High as US Blockade Takes Toll

The economic crisis in Iran has reached new heights, with the country's 'misery index' hitting a record high of 91.1% due to rampant inflation and unemployment.

The misery index is calculated by adding the point-to-point inflation rate, which stands at 82%, with the unemployment rate, currently at 9.1%. The sharp increase is more than double what it was last spring, affecting even Tehran, where the city's own index hit 78.3%.

Economic experts warn that the situation will only worsen under the US naval blockade, which has already caused a significant drop in oil exports and trade with China. The country's rial currency has fallen to a record-low value of 185,000 rials to the US dollar, a 20% decline since the start of the war.

Grocery prices have skyrocketed, with bread up 140%, dairy products up 116.8%, and food and drink prices overall up 113.8%. The cost of basic items has become unaffordable for many Iranians, leading to reports of theft and forgone medical treatment.