Tuesday, January 10, 2012

Reports Surface of Hyperinflation in Iran

EA Worldview reports that hyperinflation has developed in Iran over the past week- with the price of laptop computers tripling in the past few days, and the price of washing machines doubling overnight.  If electronics are tripling in days, imagine what the prices of basic necessities like food are doing. 
This can only lead to desperation and escalation of the crisis between Iran and Israel/ the US.

1735 GMT: Econony Watch 1st-Hand. An EA source reports that a relative in Tehran ordered a washing machine for 400,000 Toman (about $240) this week. When he went to the shop the next day, he was told that --- amidst the currency crisis and rising import costs --- the price was now 800,000 Toman (about $480).
Another EA source says that the price of an item of software for a laptop computer has tripled from 50,000 Toman to 150,000 Toman within days.
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