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Planning announces an increase in the inflation rate for last July
Economic 09/04/2024
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Baghdad: Shukran Al-Fatlawi
The Ministry of Planning revealed that the inflation rate for last July increased by (3.7%) compared to the same month last year, while the monthly inflation rate witnessed a slight increase of (0.6%) compared to the previous month of June, while the ministry confirmed the government's keenness to ensure that inflation rates are acceptable.
Inflation is a quantitative measure that expresses the rise in the level of prices and services in an economy over time.
The official spokesman for the ministry, Abdul Zahra Al-Hindawi, said in a statement to “Al-Sabah”: The basic inflation for last July amounted to about (108.3) compared to about (108.1) in June, i.e. it recorded an increase of (0.2%), indicating that “when compared to July 2023, an increase of (3.1) is evident.”
He added that “the annual rate of change also recorded an increase of (0.6%) in the health section, as the transportation section recorded an increase of (2.8%), the communication section recorded an increase of (4.5%), and the entertainment and culture section recorded an increase of (5.1%), indicating that the education section recorded an increase of (4.4%).
Al-Hindawi pointed out that “the food and non-alcoholic beverages section recorded an increase of (5.5%), the tobacco section recorded an increase of (16.3%), and the clothing and footwear section recorded an increase of (0.9%), indicating that “the housing section recorded an increase of (3.1%) in the annual change rate, and the home furnishings, equipment and maintenance section recorded an increase of (0.3%) in the change rate.”
He pointed out that “the ministry seeks to issue a report on consumer price index numbers by month and year,” explaining at the same time that “the percentage is acceptable in light of the government measures to control inflation rates.”
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