Risk of Hyperinflation in Iran

A lingering problem in Iran’s economy since a decade before the Islamic Revolution of 1979, inflation has been fueled by demand pressure, devaluation of the rial, inefficient management of disruptions in the production sector, growth in monetary base and at times the concurrency of these factors. 
Governments have taken steps to tackle inflation, for example, by introducing rates for foreign currencies [against the rial] and price controls, and rationing scarce goods, which have had limited success. However, inflation in Iran is impacted by a wide range of economic, political and social factors. 
Farzad Javidanrad, a lecturer at the University of Warwick’s Economics Department, prefaced his article for the Persian economic daily Donya-e-Eqtesad with this note. A translation of the text follows:
The causes of inflation in Iran are complex and multifaceted; attributing the inflation to only one factor is not academically acceptable. Over the past decade, foreign resource restrictions, backbreaking sanctions and supply of money unrelated to production have darkened the prospects of inflation management.