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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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    Institution indicates an increase in the annual inflation rate in Iraq during the month

    Rocky
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    Institution indicates an increase in the annual inflation rate in Iraq during the month Empty Institution indicates an increase in the annual inflation rate in Iraq during the month

    Post by Rocky Fri 19 Jul 2024, 5:11 am

    Institution indicates an increase in the annual inflation rate in Iraq during the month


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    2024-07-19 02:27
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    Shafaq News/ The "Iraq Al-Mustaqbal" Foundation for Economic Studies and Consultations announced on Friday that the annual inflation rate increased in May 2024 by 3.4% in all of Iraq, according to inflation data issued by the Central Statistical Organization.
    The institution stated in a report published today that the annual inflation rate in the Kurdistan Region 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%.
    According to the report, 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%.
    The institution also indicated that dairy products, oils, fruits and vegetables witnessed a decrease in inflation rates in all Iraqi governorates.
    The report said 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 Iraq are affected by external factors much more than they are affected by the exchange rate in the parallel market. 
    The report noted that fuel inflation did not rise despite the 100% increase in improved fuel prices last May, which indicates observations in the mechanism for calculating inflation rates. 
    The inflation index is 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 Iraq.
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