Sharp surge in coffee prices in Iran: 462% increase since the beginning of 2024
[80011] Sharp surge in coffee prices in Iran: 462% increase since the beginning of 2024
New economic data indicate a sharp rise in coffee prices in Iran, significantly exceeding the inflation rates of the local currency against the dollar.
Sharp surge in coffee prices in Iran: 462% increase since the beginning of 2024
According to reports on the Telegram channels خبرفوری ࡆ اخبارفوری مذاקרה ࡆ جنگ فوری and خبر فوری جنگ ایران, there has been an unusual increase in coffee prices in Iran since the beginning of the year 1403 (according to the Persian calendar, the year 2024). The data, attributed to the "Bamdad" economic research institute, present a picture of extreme price hikes that do not correspond to the local currency's exchange rate.
According to the data published on خبرفوری, the price of coffee in Iran has soared by 462%. This is a significant gap compared to the rise of the dollar rate in the free market, which stood at 179%, and the rise of the dollar rate in the "agreed" (tavafoqi) market, which stood at only 263%.
The report notes that while the global price of coffee (commodities) rose by 40% during this period, the dollar price of coffee inside Iran has "almost doubled twice." These channels, sometimes identified with the opposition or criticism of Iranian economic policy, use this data to highlight the erosion of purchasing power and the distortions in the local market compared to global trends.