War hits Tehran’s grand bazaar as prices surge and shops shut
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By Maggie Michael
Published on March 18, 2026.
The U.S.-Israeli conflict has impacted Tehran's Grand Bazaar, where prices have surged and shops have shut due to the conflict. The days before the Persian new year and Eid al-Fitr holidays, typically, would typically see traders and families shopping for gifts, but there were fewer shoppers out shopping. The war has also damaged buildings in the area, with some buildings damaged by airstrikes. Despite this, traders and shoppers expressed the sharp economic impact of the conflict and predicted prices may rise even higher than the 36% inflation rate held for much of 2025.
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