Inflation rises in Iraq during February
Part of the Iraqi capital, Baghdad. Photo: AP
Baghdad (IraqiNews.com) – The Iraqi Ministry of Planning announced on Wednesday that inflation in Iraq rose slightly during February.
The spokesperson of the Planning Ministry, Abdul Zahra Al-Hindawi, said in a statement that the Central Organization of Statistics and Information Technology (COSIT) monitored a slight increase in the inflation rate during February, the Iraqi News Agency (INA) reported.
Al-Hindawi revealed that inflation rose by 0.3 percent in February, compared to January, when the inflation rate was 0.4 percent.
The annual inflation rate monitored by the COSIT rose during February by 0.6 percent, compared to the same month in 2023.
The annual inflation rate in January reached 0.4 percent, compared to January 2023.
Inflation in Iraq reached approximately 3.7 percent in August 2023, compared to 4.4 percent in August 2022, despite the rise in inflation in Iraq’s neighboring countries.
The inflation rate reached 46 percent in Iran and approximately 57 percent in Turkey.
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.