Prices surge, jobs disappear as war strains Iran’s economy

Author: Maziar MotamediPublished on: May 2, 2026Country: Iran
Business & Economy
Prices surge, jobs disappear as war strains Iran’s economy

Iran's economy is suffering significant damage due to the war with the US and Israel, leading to soaring prices and the loss of millions of jobs. The national currency, the rial, has hit a record low of 1.84 million against the US dollar, while products like the iPhone 17 Pro Max are being offered at exorbitant prices. Supply shortages and market volatility are exacerbating the already precarious economic situation in the country.

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