Annual inflation rises to 5.3 percent in Iraq
A market in the Iraqi capital, Baghdad. Photo: AFP
Baghdad (IraqiNews.com) – The inflation rate in Iraq rose during September 2022 by 0.2 percent, compared to August, and the annual inflation rate rose to 5.3 percent, according to the Iraqi Ministry of Planning.
The official spokesperson for the Ministry of Planning, Abdul Zahra Al-Hindawi, mentioned in a statement that the annual inflation rate increased by 5.3 percent compared to what it was during September 2021.
“The monthly change in inflation is caused by an increased rate in the food and non-alcoholic beverages sector by 1.6 percent, against decreased rate in the clothing and shoes sector by 0.7 percent,” Al-Hindawi explained.
“The inflation rate in the housing sector decreased by one percent as a result of the decrease in water and electricity supplies by 5.1 percent. The inflation rate in fuel decreased by 0.5 percent,” Al-Hindawi stated.
Al-Hindawi indicated that home supplies and equipment recorded a 0.2 percent increase, while tobacco maintained its same level as in August.
Al-Hindawi elaborated that other sectors recorded a slight increase in their rates during the month of September. These sectors include the transportation sector which rose by 0.1 percent, the communication sector by 0.2 percent, the entertainment and culture sector by 0.8 percent, the education sector by 0.2 percent, and the restaurants and hotels sector by 0.2 percent.
A recent study made by the International Monetary Fund (IMF) indicates that the Iraqi economy is growing by 9.3 percent to be in the first place among the Arab economies by the end of 2022.