Iran inflation hits highest level since World War II: 'Red meat is now a dream'

Al Jazeera reports that annual inflation in Iran has reached its highest level since World War II, with food-price increases biting directly into the daily routines of middle-class households. In Tehran, one resident told reporters 'red meat is now a dream for us', summing up the severity of the picture. Sharp price jumps in essential goods are accelerating the erosion of real wages.

The story stresses that the price pressure cannot be tied to the conflict with the United States alone. A steep depreciation of the currency, disruptions in import chains and subsidy reforms are feeding inflation on several fronts. Some independent economists say the pace of central-bank money printing is an additional structural factor.

The government is trying to limit the squeeze through household insurance and food-voucher systems. But a drought hitting agricultural supply continues to push prices higher. According to Al Jazeera, Tehran is keeping open the option of restarting technical-level consultations with the IMF.