Prices posted on the website of Iran Khodro (Automotive Company) indicate that car prices have gone up by 20 to 30 million rials.

ILNA reports that the price hike is contrary to the settlement reached with the National Competition Bureau in early May.

The market has already felt the effect of this price hike and Iran Khodro products are already being offered at the inflated rates.

The intensification of international sanctions on Iran and recent national policies regarding government subsidies have caused a sharp devaluation of the national currency and widespread inflation all across the Iranian market.

Solving the economic maladies, which many have blamed on the Ahmadinejad administration, is high on the list of campaign promises being presented by the candidates in the June 14 presidential election.