- TEHRAN: Iran’s government has raised bread prices up to 25 percent, the second hike in four months, as authorities are trying to cut subsidies to ease pressure on the economy straining under international sanctions.
Tehran province deputy governor Nematollah Torki, quoted by state IRNA news agency, said the new price will be effective as of Tuesday.
A loaf of the popular Sangak bread has gone up from 4,000 rials to 5,000 rials.
Bread prices first tripled after the subsidy cuts came into effect in December as the government moved to reduce the massive drain on the state budget from subsidies on foodstuffs and energy.
Every Iranian receives the equivalent of about $45 per month to compensate the subsidy cuts.