Iranians are bracing for a surge in prices and lay-offs as the US-Israeli war tips the Islamic republic’s already troubled economy into a new crisis.
Annual inflation, which was above 40 per cent before the war, rose to 50 per cent as of April 4, shortly before a fragile ceasefire went into effect, according to the central bank.
Consumers have continued to feel the pain in the weeks since the truce came into force, during which the US has blocked the Strait of Hormuz to try to disrupt Iranian trade.
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