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The World Bank: The annual food inflation in Iraq reached 6.4%.. Expert: It is not alarming
Shafaq News/ The World Bank announced that the annual food inflation in Iraq amounted to 6.4% between May and August of 2022, while an economist considered that this is not alarming.
The bank said in a report seen by Shafak News Agency that "domestic food price inflation is still high in various parts of the world, and information for the period between May and August 2022 shows high inflation rates in almost all low- and middle-income countries," noting that “According to the mid-year update of the Global Report on Food Crises 2022, the number of people suffering from a food crisis or malnutrition is expected to reach 205.1 million people in 45 of the 53 countries/territories.”
He added that "the annual inflation of food in Iraq amounted to 6.45% between the months of May and August of the current year 2022," noting that "this inflation is considered relatively high in relation to global inflation indicators."
The World Bank also indicated in its report that “the annual food inflation in Kuwait reached 7.75%, in Saudi Arabia 3.9%, in Lebanon 240%, in Oman 6.09%, in Jordan 3.8%, in Egypt 23.1%, in Algeria 17.3%, and in Morocco 12.4 %.
The report noted that "the highest food inflation witnessed by countries was in Lebanon, followed by Turkey 90.25%, followed by Iran 81.2%, followed by Argentina 66.35%, and then Ethiopia 35.5%."
For his part, the economic expert, Muhammad Al-Hasani, considered in an interview with Shafaq News that "the rates of food inflation in Iraq are not terrifying, but at the same time it puts unhealthy indicators in the Iraqi economy," attributing the cause to Iraq's "rentier" economy.
And he indicated that "the war in Ukraine has significantly raised the prices of foodstuffs globally, especially the basic ones, and the deterioration of the agricultural situation in Iraq and its dependence on imports to meet its domestic needs of foodstuffs has led to a rise in the inflation index of food prices," adding that "the government has She rushed to provide the ration card during this period, which greatly limited this rise.”
He pointed out that "the months of August and September decreased food prices globally, which was reflected on Iraq, but these prices remain much higher than the prices of last year."
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The bank said in a report seen by Shafak News Agency that "domestic food price inflation is still high in various parts of the world, and information for the period between May and August 2022 shows high inflation rates in almost all low- and middle-income countries," noting that “According to the mid-year update of the Global Report on Food Crises 2022, the number of people suffering from a food crisis or malnutrition is expected to reach 205.1 million people in 45 of the 53 countries/territories.”
He added that "the annual inflation of food in Iraq amounted to 6.45% between the months of May and August of the current year 2022," noting that "this inflation is considered relatively high in relation to global inflation indicators."
The World Bank also indicated in its report that “the annual food inflation in Kuwait reached 7.75%, in Saudi Arabia 3.9%, in Lebanon 240%, in Oman 6.09%, in Jordan 3.8%, in Egypt 23.1%, in Algeria 17.3%, and in Morocco 12.4 %.
The report noted that "the highest food inflation witnessed by countries was in Lebanon, followed by Turkey 90.25%, followed by Iran 81.2%, followed by Argentina 66.35%, and then Ethiopia 35.5%."
For his part, the economic expert, Muhammad Al-Hasani, considered in an interview with Shafaq News that "the rates of food inflation in Iraq are not terrifying, but at the same time it puts unhealthy indicators in the Iraqi economy," attributing the cause to Iraq's "rentier" economy.
And he indicated that "the war in Ukraine has significantly raised the prices of foodstuffs globally, especially the basic ones, and the deterioration of the agricultural situation in Iraq and its dependence on imports to meet its domestic needs of foodstuffs has led to a rise in the inflation index of food prices," adding that "the government has She rushed to provide the ration card during this period, which greatly limited this rise.”
He pointed out that "the months of August and September decreased food prices globally, which was reflected on Iraq, but these prices remain much higher than the prices of last year."
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