Inflation rate in Iraq stabilized during September
Part of the Iraqi capital, Baghdad. Photo: Shutterstock
Baghdad (IraqiNews.com) – The Iraqi Ministry of Planning announced on Sunday that the inflation rate remained stable during September.
The spokesperson of the Planning Ministry, Abdul Zahra Al-Hindawi, mentioned in a statement cited by the Iraqi News Agency (INA) that the monthly inflation rate in Iraq during September witnessed no changes compared to August, where the inflation rate rose by 0.5 percent.
Al-Hindawi added that the annual inflation rate during September witnessed an increase of 3.6 percent compared to the same month in 2022.
The Central Statistical Organization (CSO) of the Iraqi Planning Ministry recorded an increase of four percent in the annual inflation rate in April 2023, compared to the same period in 2022.
In its latest report, the International Monetary Fund (IMF) expected that the annual inflation 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.