Iran's inflation tops 27%

AFP ^ | Sep 7, 2008 | Unknown

[decimon]

TEHRAN (AFP) - Iran's inflation hit 27.6 percent in the calendar month of Mordad that ended August 21, the central bank said Sunday, as Iranians were again battered by rising prices of basic foodstuffs and goods.

The consumer price index (CPI) in urban areas increased by 27.6 percent compared to the same month in the previous year, the Etemad newspaper quoted the bank as saying.

The figures confirm that prices are on an upward trajectory in the nation of 70 million people, with the poor hit the hardest.

[decimon]

Ahmadinejad was elected in 2005 on a platform of making the poor feel the benefits of the OPEC member's massive oil wealth, and he has made implementation of economic "justice" the main government slogan.

There is some economic justice in this but not for the Iranian poor.

[Question Liberal Authority]

with the poor hit the hardest.

CRIPES!

[edpc]

with the poor hit the hardest

Interesting. I calculated 1 percent inflation for someone who has nothing. I then multiplied .27 by 0 and still got zero.

[freeangel]

Tough tootsies—they have stood around and helped make their situation worse by leting imanutjob dictate to them when they could breathe, eat or take a dump. I am now feeling not one bit of sorrow for these do nothing citizens of these devil worshipping dictatorships.

[Recon Dad]

Iran's inflation hit 27.6 percent in the calendar month of Mordad

Not to worry the Iranians can reduce inflation by creating an additional 4 or 5 months and then dividing the annual rate by the new number. They have already reduced the rate by adding the month of “Mordad”!

Any suggestions for new names for new months.

[Recon Dad]

Iran's inflation hit 27.6 percent in the calendar month of Mordad

Not to worry the Iranians can reduce inflation by creating an additional 4 or 5 months and then dividing the annual rate by the new number. They have already reduced the rate by adding the month of “Mordad”!

Any suggestions for new names for new months.

[DainBramage]

Let em eat oil.

[mountainlion]

Obama could do the same to the USA also.

[TonyM]

That dumb butt T. Bone Pickins is saying Iran is converting their cars to run on natural gas so they can export more oil. I though it was because although they have plenty oil they have no refining capacity. Is this just another T-Bone lie?

[mbraynard]

1) I do not know about the scale of natural gas usage in Iran. It might just be on the same scale as we in the US are converting to it (some DC metro buses burn it).

2) Iran does have a severe lack of refining capacity and must import it's own processed oil.

3) Remember, oil has a global price, and even if you an oil producing nation, when the price of oil goes up, so does the price of your oil. So it behoves you to switch to alternatives.

4) It also behoves you to switch to cheaper alternatives (like nuclear) because then you have more oil to SELL at the crazy high prices. If you can generate 1kw for $1 from nuclear and sell 1kw for $5 from oil, yes, that's a good idea.

5) Natural gas is a wise choice for Iran because natural gas is associated with oil sources. And unlike oil, natural gas is pretty much impossible for them to export since it's pretty low density stuff. You gotta use it locally (or build a pipelina - ala Alaska - that isn't possible under Oceans). So again - it makes sense to consume natural gas domestically and export every barrel of oil they can.