Public anger is once again spilling onto the streets of Iran as rising living costs, a collapsing currency and soaring inflation deepen the country’s economic crisis. Inflation has surged beyond 40%, with some months running at an annual rate of over 70%, according to official data.

Djavad Salehi-Isfahani, professor of economics at Virginia Tech and a leading expert on Iran’s economy, explains why the government is struggling to stabilize prices. He says U.S. sanctions limiting Iran’s oil exports, reduced foreign trade, capital flight, and the economic fallout from the June war with Israel have severely weakened the economy.

Salehi-Isfahani also warns that rising taxes, increased military spending and shrinking government revenues are fueling public frustration — leaving authorities with few options to ease the crisis as protests spread nationwide.

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