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Posted: Sun Mar 09, 2008 5:45 am Post subject: Inflation Runs Rampant In Iran
Inflation may play a major role in the unravelling of Iranian President Mahmoud Ahmadinejad's support and influence within his country and the middle eastern region. His mismanagement of the economy has led to a soaring 16.8% annual rate of inflation (as reported by the Central Bank of Iran). As consumer prices rise rapidly and the Iranian citizens see the value of their savings and investments drop significantly, public confidence in Ahmadinejad's government continues its downward slide toward exceedingly low levels. Ahmadinejad's hard-line anti-U.S. political stance has cost him and his party a great deal of public support and as inflation in Iran continues to climb higher, substantially outpacing GDP growth despite a recent sharp increase in the price of oil, the President's power is waning, giving the rest of us something to look forward to in 2009, when the next Iranian presidential election is held.
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