Sunday, February 19, 2012

Sanctions Begin to Bite in Tehran

As Iran remains defiant over its nuclear program, tough new sanctions imposed by the United States and the European Union have sent prices for basic foodstuffs soaring on the streets of Tehran.

“Prices have been going up really quickly,” said Hossein, the co-owner of a downtown Tehran shop. “And businesses are suffering. People buy less, so we order less, and our suppliers suffer. It’s a chain reaction.”

“The government says inflation is at twenty percent, but the true figure is at least twice that,” he added. “Imported goods have been rising in price almost daily.”

A housewife doing her afternoon shopping smiled sadly when asked how her family was managing to cope with the newly exorbitant cost of living.

“It’s getting tough,” she said. “But what can we do?” Read More