WASHINGTON, August 12. /TASS/. Inflation in Iran is likely to peak at 300% and the situation in the country is deteriorating, US President Donald Trump said on Wednesday.

"They [Iran] have no Navy, they have no Air Force, their remaining soldiers are unpaid, the IRGC [the Islamic Revolutionary Guard Corps, IRGC, elite units of the Iranian Armed Forces] is decimated and fleeing, and their ‘Leadership’ is uncertain, at best! They have no money," Trump announced.

"Their country is ‘shot.’ All they have is fake news and 300% inflation, and getting worse! Iran is all talk and no action…," the US president noted.

The International Monetary Fund (IMF) expects inflation rate in Iran to reach 69% this year. The World Bank puts this figure for the country at 42.2% if compared to the previous year.

The United States and Israel began a war with Iran on February 28. In June, Washington and Tehran signed a memorandum of understanding providing for an immediate cessation of hostilities on all fronts, including in Lebanon.

However, in the early morning hours of July 8, the US resumed large-scale strikes against Iran, accusing it of violating the terms of the agreements reached on the Strait of Hormuz.