Iran's Economy Crumbles Under War and Sanctions

The war between Iran and the US-Israel alliance has significantly impacted Iran's economy, with its GDP declining by 10.1% in the first quarter of the Persian calendar.

The contraction occurred from late March to late June, a period during which oil exports were heavily restricted due to sanctions and military operations.

Average annual inflation reached 69.9% in August, with food prices increasing by an even higher rate, causing Iranians' purchasing power to erode rapidly.