• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

New York City women are making up to $30,000 per month by renting out their closets to strangers

2

College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind

3

An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948

1

New York City women are making up to $30,000 per month by renting out their closets to strangers

2

College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind

3

An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
EconomyIran

Iran emerges from war with its economy in free fall and inflation on some food items above 400%. If the regime doesn’t fix it, ‘there will be trouble’

Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
June 15, 2026, 11:42 AM ET
At the Tajrish Bazaar in Tehran, June 2, 2026.
At the Tajrish Bazaar in Tehran, June 2, 2026. ATTA KENARE—AFP/Getty Images
Add Fortune on Google for similar content.

The regime in Tehran is still standing after the U.S.-Israeli war on Iran, but its economy is collapsing and could spark more unrest among the population.

Recommended Video

Iran’s economy was already in shambles before the war began more than three months ago, with high inflation and a currency crash spurring mass protests in late December.

But the war has only made conditions worse. Unemployment and prices have soared, including for basic food items. The Iranian government’s own data showed that the price of cooking oil is up 430% compared with a year ago, with eggs up 345%, rice 287%, and milk 139%.

“We have all become poor,” a resident of Tehran told Radio Free Europe’s Radio Farda earlier this month. “Those of us who were once middle-class, or a little above it, are now financially destitute.”

He added that he has sold his furniture, appliances, carpets, and other household items to survive. On top of that, he’s unemployed and has resorted to making sandwiches to sell on the subway. Meanwhile, his phone bill and electricity bill have jumped fivefold.

Iran has estimated that the war inflicted $270 billion worth of damage, nearly equal to its GDP. The International Monetary Fund expects the economy to contract by 6.1% this year, and the United Nations warned 4.1 million more Iranians could drop below the international poverty line.

But the regime has also mismanaged the economy for decades and worsened its wartime crisis with policies like an internet blackout that put more people out of work.

In addition, the U.S. naval blockade cut off oil revenue for Iran, putting pressure on its foreign exchange reserves, which Capital Economics estimated in April were only enough for three months’ worth of imports at prewar levels.

Iran-based economist Javad Rahimpour told Radio Farda that people are draining their savings and economic discontent is very high.

“The conditions for protests may not currently exist,” he added. “But that should not lead us to think there is some kind of convergence between the state and the people.”

However, an Iranian government employee who has attended pro-regime rallies expressed more impatience with the country’s leadership.

He told the New York Times last week that he exhausts all his pay by the middle of the month and must buy groceries on credit—only to find that prices double when it’s time to settle the bill.

“Everybody is angry over the economy, and if the government doesn’t fix things, there will be trouble,” he said.

Former U.S. diplomat Dennis Ross, who has extensive experience in the Middle East, pointed out that Iran’s leaders must face up to their failures to provide for the people without being able to use the war as an excuse.

But the regime will attempt to rebuild its military and defense industrial base, diverting resources away from a civilian economy that’s already weighed down by water and electricity shortages, he wrote in a Washington Post op-ed last week.

“But even with aid, Tehran’s ability to manage its domestic woes will remain limited, and the internal pressures will build,” Ross predicted. “They may not lead to the collapse of the regime, but they could produce what Khamenei greatly feared: the emergence of an Iranian Gorbachev—a leader who wants to prioritize domestic development, reach out to the public, and end confrontation with the outside world as organizing principles.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Economy

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Economy

Photo of truck driver
North AmericaCanada
U.S.—Canada bridge opens to traffic in Detroit amid Trump tariffs strain
By The Associated Press, Mike Householder and Ed WhiteJuly 27, 2026
3 hours ago
Elon Musk’s vision of a post-money future got mocked. Vinod Khosla warns it could become a dystopia instead
AIthe future of work
Elon Musk’s vision of a post-money future got mocked. Vinod Khosla warns it could become a dystopia instead
By Nick LichtenbergJuly 27, 2026
3 hours ago
magic
RetailMillennials
What Magic: The Gathering’s record year reveals about America’s stalled adulthood economy
By Nick LichtenbergJuly 27, 2026
4 hours ago
guano
Energyfertilizer
The Strait of Hormuz isn’t fertilizer’s first starring role — an 1856 law still defines U.S. overseas territory
By Edward D. Melillo and The ConversationJuly 27, 2026
7 hours ago
Photo of Tobias Lütke
C-SuiteTaxes
Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?
By Nick LichtenbergJuly 27, 2026
7 hours ago
Photo of man walking past anti-U.S. graffit "Down with USA" in Tehran
AsiaIran
U.S. and Iran edge toward talks as Hormuz shipping hits three-week low, regional officials say
By The Associated Press, Samy Magdy and Elena BecatorosJuly 27, 2026
8 hours ago

Most Popular

New York City women are making up to $30,000 per month by renting out their closets to strangers
Retail
New York City women are making up to $30,000 per month by renting out their closets to strangers
By Sarah GlodekJuly 27, 2026
16 hours ago
College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind
Economy
College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind
By Mia OsmonbekovJuly 26, 2026
2 days ago
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
Success
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
By Orianna Rosa RoyleJuly 25, 2026
3 days ago
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
2 days ago
I've been teaching college students for decades. Most of them can no longer finish a book
Commentary
I've been teaching college students for decades. Most of them can no longer finish a book
By Austin SaratJuly 26, 2026
2 days ago
One-third of Seattle's downtown is empty: Here's how America's boomtown turned into one of the toughest places to find a job
Real Estate
One-third of Seattle's downtown is empty: Here's how America's boomtown turned into one of the toughest places to find a job
By Nick LichtenbergJuly 27, 2026
15 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.