Iranian President Dies Amidst High Inflation

Iranian President Ebrahim Raisi died in a helicopter crash. International media announced the incident on Monday, May 20, 2024.

"The late President (Ebrahim Raisi) will be buried in Mashhad (Iran) on Friday," said Iranian media outlet, *Tehran Times* (May 20, 2024).

The eighth Iranian president passed away while his country was grappling with high inflation.

According to International Monetary Fund (IMF) data, the average annual inflation rate in Iran reached 41.5% in 2023.

This figure is higher than the inflation rate during the presidencies of Mahmoud Ahmadinejad (2005-2013) and Hassan Rouhani (2014-2021), as shown in the graph.

"High inflation in recent years has severely impacted the poor and middle class in Iran, making it increasingly difficult for them to meet their basic needs, especially food and housing," said Iranian political analyst Maryam Sinaiee, as reported by *Iran International* (October 30, 2023).

"Sanctions imposed by the United States (US) since 2018 have plunged Iran into an economic crisis," she added.

In 2018, the US imposed economic sanctions on Iran, alleging that Iran supported terrorist groups affiliated with the Islamic Revolutionary Guard Corps (IRGC).

Since then, the US has prohibited various parties from transacting with or purchasing commodities from Iran, including its oil.

These sanctions were established through a US government document titled *Executive Order 13846 of August 6, 2018 Reimposing Certain Sanctions With Respect to Iran*.