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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Annual inflation rate rises by 3.4% in May 2024.. What do experts say?

    Rocky
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    Annual inflation rate rises by 3.4% in May 2024.. What do experts say? Empty Annual inflation rate rises by 3.4% in May 2024.. What do experts say?

    Post by Rocky Fri 19 Jul 2024, 4:15 am

    [size=35][size=35]Annual inflation rate rises by 3.4% in May 2024.. What do experts say?[/size]
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    Alsumaria News - Economy

    Inflation data issued by the Central Statistical Organization showed that the annual inflation rate rose in May 2024 by 3.4% in all of Iraq, according to what was stated by the head of the "Iraq Al-Mustaqbal" Foundation for Economic Studies and Consultations, Manar Al-Obaidi.


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    Al-Obaidi said in a post on [You must be registered and logged in to see this link.], followed by Sumaria News, that inflation data issued by the Central Statistical Organization showed an increase in the annual inflation rate in May 2024 by 3.4% throughout [You must be registered and logged in to see this link.], and the annual inflation rate in [You must be registered and logged in to see this link.] reached 5.34%, while the inflation rate in the central governorates reached 2.25% and the inflation rate in the southern governorates reached 2.6%.



    The highest price increases were in electricity, which rose by 45.47%, cigarettes by 23.7%, fish by 14%, entertainment services by 12.9%, and meat by 10.39%. Dairy products, oils, fruits and vegetables witnessed a decrease in inflation rates in all Iraqi governorates, according to Al-Obaidi.

    Al-Obaidi explains that based on this data, it is strange that the prices of goods imported from countries with which banking transactions are prohibited and which use the parallel market to provide foreign currency to purchase these goods have decreased, namely vegetables, fruits, dairy products and oils, while the prices of goods that use banking transactions to import them, such as meat, electrical appliances, home appliances and furniture, have increased, which means that the rates of price increases in [You must be registered and logged in to see this link.] are affected by external factors much more than they are affected by the exchange rate in the parallel market.

    He adds that it is noticeable that inflation in fuel prices has not increased despite the 100% increase in the prices of improved fuel in May, which indicates observations in the mechanism for calculating inflation rates.

    The inflation index is considered one of the most important economic indicators that illustrate the impact of various economic activities occurring in the country, which require continuous monitoring and auditing by various regulatory bodies to adopt accurate and correct data that reflects the true reality of economic events occurring in [You must be registered and logged in to see this link.], according to Al-Obaidi.
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