Iran raises prices of food staples, stirring panic and anger

DUBAI, United Arab Emirates (AP) — Iran has abruptly raised prices as much as 300% for a variety of staples like oil, chicken, milk and eggs. The price hike on Thursday has alarmed scores of Iranians who were seen waiting in long lines and emptying supermarket shelves across the country in the hours before it took effect. Iran’s currency dropped to a low of 300,000 rial for the dollar. Internet disruptions were reported across the country as the government braced for possible unrest. The scenes revealed not only deep anxiety gripping Iran and frustration with its leaders, but also underscored the staggering economic and political challenges facing them.