Iran’s annual inflation rate has stood at 66 per cent, the Iranian Labour News Agency (ILNA) has reported, citing official data from the Statistical Centre of Iran, as the economy has reeled under the combined weight of international sanctions and the costs of regional conflict, according to AlJazeera.

The point-to-point inflation rate, which measures price changes compared to the same month a year earlier, reached 87.9pc in July, the report cited ILNA. Food and beverage prices surged by 128.1pc year-on-year, with at least eight staple items more than doubling in cost over the past 12 months. Monthly inflation for July was recorded at 3.1pc.

The minimum living cost for a working-class family stood at 90 million tomans ($1,385) per month, according to the report, while the monthly salary of a minimum-wage worker was approximately 25 million tomans ($385) — covering just over a quarter of basic expenses.

Due to the rising cost of living, many workers were only able to afford their living expenses for around eight days in each month, the report quotes Faramarz Toufighi, a labor activist. “For more than 20 days of every month, workers are effectively left with nothing,” Toufighi said, according to the ILNA report.