Inflation drops by 0.6% during June
An aerial view of the Iraqi capital, Baghdad. Photo: Reuters
Baghdad (IraqiNews.com) – The Iraqi Ministry of Planning announced on Tuesday that inflation declined by 0.6 percent during July compared to the previous month.
The spokesperson of the Planning Ministry, Abdul Zahra Al-Hindawi, mentioned in a statement that Iraq’s Central Statistical Organization (CSO) recorded a decline in the inflation rate during July by 0.6 percent compared to June.
Regarding annual inflation, Al-Hindawi stated that it increased by 3.5 percent in July compared to the same month in 2022.
In its latest report, the International Monetary Fund (IMF) expected that the annual inflation rate in Iraq would rise to 6.6 percent in 2023.
The IMF explained in its report that the annual inflation in Iraq during 2020 reached 0.6 percent and rose to six percent in 2021.
Expectations also indicated that the annual inflation rate in Iraq will decrease in 2024 to 1.6 percent.