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TEHRAN: At a Tehran bazaar where fragrant herbs and spices whet the appetite, shopkeeper Nasir says locals once bought his nuts by the kilo but soaring prices caused by the US-Iran war have eaten into sales, leaving businesses fighting for survival.<\/p>\n
The marketplace in the Iranian capital\u2019s north would usually be abuzz with customers, but shops now sit mostly empty with only small numbers of people walking its old narrow paths, a jarring shift for the sellers shouting to promote their goods.<\/p>\n
\u201cThere used to be customers who bought two to five kilograms. Now, they\u2019re down to buying one kilogram or half a kilogram,\u201d said the 61-year-old.<\/p>\n
\u201cPrices are truly high. We all know it, and it would be a lie to say otherwise.\u201d<\/p>\n
Nasir called on authorities to stabilize the currency so businesses could plan ahead.<\/p>\n
\u201cWe\u2019re left in limbo, everyone is,\u201d said the fruit and nut seller.<\/p>\n
\u201cThey need to stabilize the dollar exchange rate.\u201d<\/p>\n
Iran\u2019s economy has been battered by years of sanctions, but the conflict that began in February with US-Israeli attacks and an American blockade of the country\u2019s ports has put extra strain on daily life.<\/p>\n
Rising inflation, nearly 90 percent year-on-year in September according to official figures, and erratic currency exchange fluctuations have driven up the cost of everyday items. Food prices have more than doubled since last year.<\/p>\n
At the bazaar, a historic covered market in Tehran\u2019s Tajrish square, locals surrounded by Iranian flags and Persian signage try to escape the economic gloom, scanning sweets, jewelry, traditional garments and cuts of meat before their weekend begins.<\/p>\n
In an alley, a street artist plays a guitar while another drums his hands on a box to draw tips from passersby.<\/p>\n
\u2018Just need stability\u2019<\/strong><\/p>\n But across the commercial district, many struggle to see a future for their businesses.<\/p>\n \u201cIt is a desperate, last-ditch struggle. Manufacturers are going bankrupt, laying off staff and closing shops, and the impact inevitably reaches us,\u201d said Ali Nowruzi, 36, who runs a sportswear shop in the bazaar.<\/p>\n The businessman now orders only a few items for display on his shop\u2019s shelves to stop them from looking bare like his warehouse, which he says lies empty due to lack of demand.<\/p>\n \u201cWe have absolutely no plan for the future. When people don\u2019t come to buy… it effectively spells bankruptcy for the business,\u201d he said, citing rising rent and utility bills.<\/p>\n \u201cWe just need some stability.\u201d<\/p>\n Many shoppers, whose purchasing power has weakened since the outbreak of war, are seen leaving the bazaar without buying anything.<\/p>\n Azadeh, a 45-year-old woman currently out of work, says she just goes there to \u201cwatch the shops.\u201d<\/p>\n Mounting pressure over the war saw Iran\u2019s GDP contract 10.1 percent year-on-year between late March and late June, according to official figures.<\/p>\n The rial traded at around 2.7 million to the dollar on the unofficial market in the past week, compared with about 1.7 million before the war.<\/p>\n The minimum monthly wage that stood at around $120 a year ago has fallen to $65.<\/p>\n The country\u2019s economy minister has rejected predictions of an imminent economic collapse, accusing Iran\u2019s foes of trying to fuel public anxiety and drive up exchange rates.<\/p>\n Prices \u2018skyrocketed\u2019<\/strong><\/p>\n Azadeh offers a price comparison of a kitchen cloth bought several months ago for 22 cents. She says that item now costs $1.10, five times more.<\/p>\n \u201cIt shows that prices haven\u2019t just gone up \u2014 they\u2019ve truly skyrocketed,\u201d she said.<\/p>\n She has stopped buying some fruits and says she can no longer afford holidays.<\/p>\n \u201cWe aren\u2019t meant to just exist, we\u2019re meant to actually live, right?\u201d she asked.<\/p>\n Car mechanic Mojtaba Rezaei says his customers have \u201cdropped to a tenth of what it was\u201d because \u201cgoods now cost two or three times as much.\u201d<\/p>\n \u201cI actually feel embarrassed telling prices to customers. People just come in, ask the price, and leave,\u201d the 57-year-old told AFP at the bazaar.<\/p>\n \u201cSo many things \u2014 buying clothes, going out for leisure, dining at restaurants \u2014 have all been cut out of our lives.\u201d<\/p>\n<\/div>\n