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Iran's economy strains as rice and beef prices climb and medicine runs short
Rice is up more than 60% and beef more than 150% since the war began, and medicine is in short supply.
Published
The strain comes alongside a US naval blockade.
Reports of threats against US bases and undersea infrastructure add another risk to the picture. The domestic strain inside Iran may give Tehran more reason to escalate its rhetoric or test US resolve before November 3. That cuts against the reading that followed a pullback in crude on October 22. Trump's standing pledge ahead of the midterms has at times pulled the risk premium in crude lower. With carrier groups and more personnel already moving into the Gulf, officials have flagged a risk of retaliation following the Konark strike.
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