Business · Companies · 10 hrs ago
War and inflation squeeze Tehran bazaar businesses and shoppers
In Tehran’s Tajrish Bazaar, shopkeepers say war and high prices are cutting sales as customers buy less or leave without purchasing.
The conflict began in February with US-Israeli attacks and an American blockade of Iran’s ports, adding strain to an economy already weakened by years of sanctions.
Official figures put annual inflation at nearly 90 percent in September, while food prices have more than doubled since the previous year.
Iran’s economy contracted 10.1 percent year on year between late March and late June, according to official figures.
The rial traded at about 2.7 million to the dollar on the unofficial market in the past week, compared with about 1.7 million before the war, and the minimum monthly wage has fallen from about $120 to $65.
Sellers say weak demand, rising costs and unstable exchange rates leave businesses struggling to plan, with some manufacturers closing shops and laying off staff.
The economy minister rejects predictions of imminent collapse, but the shopkeepers quoted say they need more stability to keep their businesses going.
War and inflation have reduced demand at Tehran’s Tajrish Bazaar, leaving shopkeepers struggling to keep their businesses open.
Sellers say customers are buying smaller quantities or leaving without making purchases.
Iran’s official year-on-year inflation rate was nearly 90 percent in September, and food prices had more than doubled since the previous year.
The rial traded at about 2.7 million to the dollar on the unofficial market in the week before publication, compared with about 1.7 million before the war.
Iran’s economy minister rejected predictions of an imminent economic collapse.
- Who
- Shopkeepers and shoppers at Tehran’s Tajrish Bazaar, as well as Iran’s economy minister.
- What
- War, inflation and currency fluctuations are squeezing businesses and consumers.
- When
- The conflict began in February; the article was published on November 8, 2026.
- Where
- Tajrish Bazaar in Tehran, Iran.
- Why
- The conflict has added pressure to an economy already battered by years of sanctions, while inflation and currency fluctuations have raised costs.
Shopkeepers and shoppers facing economic strain
Iran’s economy minister
Economic outlook
Shopkeepers and shoppers facing economic strain
Shopkeepers say falling demand, rising costs and uncertainty leave businesses fighting for survival.
Iran’s economy minister
The minister rejected predictions of an imminent economic collapse and accused Iran’s foes of trying to fuel public anxiety and drive up exchange rates.
The conflict began with US-Israeli attacks and an American blockade of Iran’s ports.
Iran’s GDP contracted 10.1 percent year-on-year, according to official figures.
Official figures put year-on-year inflation at nearly 90 percent.
A photograph showed shoppers walking through Tehran’s Tajrish Bazaar.
Hürriyet Daily News published its report on businesses and shoppers facing economic pressure.
- Inflation
- Nearly 90 percent year-on-year in September
- GDP
- Contracted 10.1 percent year-on-year between late March and late June
- Unofficial exchange rate
- About 2.7 million rials per dollar in the past week, versus about 1.7 million before the war
- Minimum monthly wage
- Fell from about $120 a year earlier to $65
- Kitchen cloth price
- Rose from 22 cents to $1.10, according to shopper Azadeh
What people are saying
They need to stabilise the dollar exchange rate.
We just need some stability.
Not stated