irani inflation very severe

Year-on-year inflation in Iran reached a level in May unseen since World War II,

DUBAI, United Arab Emirates (AP) — Year-on-year inflation in Iran reached a level in May unseen since World War II, underlining the economic pain average Iranians face as the Islamic Republic worries about the war with Israel and the United States restarting.

A report Monday by Iran's Central Bank represents the first official acknowledgment of what Iranians shopping, paying for a taxi or visiting a medical clinic already know: The rial currency is batteredby the war and uncertainty around it resuming.

Meanwhile, longtime problems of economic mismanagement and government corruption also appear to be dragging down Iran's oil-backed economy as it remains under a U.S. naval blockade.

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