Planning: Inflation indicators are normal compared to other countries

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[size=52]Planning: Inflation indicators are normal compared to other countries[/size]

[size=45]Baghdad / Hussein Hatem[/size]
[size=45]In light of economic instability and positive indicators recorded during the current year, the Ministry of Planning confirmed that inflation rates are "normal" compared to other countries.[/size]
[size=45]According to the Ministry of Planning, the large number of imports and the rise in the monetary mass circulating in market and commercial transactions, in addition to the Corona pandemic and the Russian-Ukrainian war are all reasons that led to the rise in inflation in the country.[/size]
[size=45]The spokesman for the Ministry of Planning, Abdul-Zahra Al-Hindawi, said that “inflation indicators have witnessed a rise in their rates during the past two years, affected by the repercussions of the Corona pandemic,” noting that “the Russian-Ukrainian war had a role in the rise in prices worldwide.”[/size]
[size=45]Al-Hindawi added, "Inflation rates in Iraq are normal compared to other countries," explaining that "the inflation rate is less than 7%, during the period from August 2021 to August 2022."[/size]
[size=45]He pointed out that "one of the reasons for the rise in inflation is the large number of imports from abroad, and the rise of these commodities has a significant impact on inflation rates," adding that "inflation is also affected by the rise in the money supply circulating in market and commercial transactions."[/size]
[size=45]Al-Hindawi added, "The repercussions of inflation have cast a shadow over many vulnerable classes, as poverty rates have reached about 23% this year."[/size]
[size=45]Al-Hindawi went on to say, "We do not have data for the year 2022, and the ministry will soon, through the Statistics Center, in cooperation with the World Bank, in implementing the economic and social survey of the family in Iraq," noting that "the survey continues for a full year, through which the poverty line is identified. and its indicators.[/size]
[size=45]In turn, economist Manar Al-Obaidi says that "the level of inflation in food prices rose by 11.2%, while the inflation level in housing, water, electricity and gas prices rose to 10.1%."[/size]
[size=45]Al-Obaidi continued, "The inflation rate at the level of transportation prices increased by 16.8%, and the most inflated rate was the prices of health and medical services, which rose by 27.8% compared to July 2019, and the general index of the Health Department reached 149.9, an increase of 50% compared to With the measurement year, which is considered 2012.”[/size]
[size=45]He attributed the reasons for the high rates of inflation to many factors, including “the rise in oil prices, which reflects its shadow on all goods and services, in addition to the change in the exchange rate of the dinar against the dollar.”[/size]
[size=45]Al-Obeidi explained, "The government does not take any actual measures that would reduce the inflation rates that qualify for the rise as a result of the lack of approval of the budget and the absence of programs that limit the impact of the inflation level on the citizen."[/size]
[size=45]And he indicated, "Local products that would reduce inflation rates are still below the standard and unable to cover the need for imported products."[/size]
[size=45]According to Forbes Middle East magazine, Iraq ranked fifth with the highest Arab inflation rates during the year 2021.[/size]
[size=45]In a report, the magazine stated, "Iraq ranked fifth in the ranking of the highest inflation rates in the Arab countries, as inflation will rise to 6.4 percent this year 2021 from 6.0 in 2020, while inflation for 2022 will drop to 4.5 percent." .[/size]
[size=45]And she indicated that "the rise in inflation in Iraq resulted from the recovery of domestic demand in Iraq and the devaluation of the currency led to inflationary pressures in the country, although the past eight years had witnessed inflation stabilization from low levels due to the decline in import prices and weak demand."[/size]
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