Inflation rate down by 0.9% in February 2009

BAGHDAD / IraqiNews.com: Iraq’s inflation rate decreased by 0.9 percent in February 2009 compared to the previous month, the Central Organization for Statistics and Information Technology said on Monday. “The organization’s report revealed a 0.9 percent decrease in the inflation rate for February 2009, which it linked to a reduction in the consumer price index (CPI),” according to a statement received by IraqiNews.com news agency. Prices of foodstuffs, apparel, fuel and transport services, which form 79.9 percent of household expenditure, have decreased by 1.3, 0.9., 1.5, and 4.8 percent respectively, the report indicated. Meanwhile, prices of tobacco, furniture, medicines, and other services, which form only 8.6 percent of household expenditure, have increased by 0.6, 2.2, 0.3 and 0.5 percent respectively, the report explained. The report also showed a 0.2 percent increase in the annual inflation rate in the period February 2008- February 2009. The Central Organization for Statistics and Information Technology, affiliated with the Iraqi Ministry of Planning and Development Cooperation, produces a monthly report on inflation in Iraq, which is based on field data of retail prices for products and services in Iraqi markets. SS (S) 1