TEHRAN, Iran, Dec. 7
Trend:
Not only has the depreciation of the exchange rate in recent months hasn't reduced the price of raw materials in Iran, but prices have also risen in recent months, said the vice-president of the Home Appliance Traders Union of Iran.
"The volume of home appliances in the market is very high, but there is no demand. Demand has fallen by about 80 percent over the past eight months,” Mohammad Eslamian said, Trend reports citing ILNA.
He went on to say that the prices on home appliances in the country have risen by 70 percent during the first 8 months of the current Iranian year (started on March 20), compared to the same period last year.
"The fall in the exchange rate has not had an effect on the price of raw materials for home appliances, but it has caused consumers to expect a big drop in prices," Eslamian said.
Emphasizing the need to support producers, Eslamian said that the government should support domestic factories.