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Iran's Prez Under Fire for Rising Inflation

Posted Dec 27, 07 7:35 PM CST in World 

(Newser) – Skyrocketing inflation in Iran is sparking criticism of President Mahmoud Ahmadinejad—even from within his own conservative party, the AP reports. Prices for food and homes have surged in recent months. Ahmadinejad, who ran in 2005 on promises to use oil revenue to boost the economy, blames his predecessors for the country's economic woes. The argument, however, isn't washing.

Ahmadinejad recklessly flooded the market with bank notes, says a prominent Iranian economist, and the government relies too heavily on imported goods. Independent analysts say the nation's inflation rate is above 30 percent. "If a fundamental solution is not found, we are going to see harder days in the next two or three months," says the deputy parliamentary speaker.

Source Associated Press

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Iranian President Mahmoud Ahmadinejad, speaks at a ceremony in Iran's nuclear enrichment facility in Natanz, 300 kms 186 (miles) south of capital Tehran, Iran, in this April, 9, 2007, file photo. (AP...   (Associated Press)
Iranian President Mahmoud Ahmadinejad speaks with journalists at the conclusion of his press conference in Tehran, Iran, Tuesday, Dec. 11, 2007. Ahmadinejad on Tuesday called a U.S. intelligence report...   (Associated Press)
Iranian President Mahmoud Ahmadinejad, sits at the Mehrabad airport prior to departure from Tehran, Iran, for Saudi Arabia to attend Hajj pilgrimage, Monday, Dec. 17, 2007. Saudi Arabia's King Abdullah...   (Associated Press)
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