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[size=30]Planning Announces rising inflation in Iraq to about 2%[/size]
23/10/2016 10:06 | Number of Views: 184
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Direction Press / Baghdad
It revealed the Ministry of Planning, Sunday, the high inflation rate of the local economy in one year to about 2%, noting that that figure included food and housing.
He said ministry spokesman Abdul Zahra al-Hindawi told a news briefing, "The rate of inflation in the domestic market stood since September 2015 and up to September of this year about 2 percent due to increased public demand on the consumption of non-essential foodstuffs, clothing and goods."
"The more sectors where increased volume of inflation is the housing sector, clothing, food, recreation and tourism has contributed to the impact on other sectors."
Hindawi pointed out that "inflation index is quite normal compared to previous years and does not need to be urgently addressed, as happened in previous years, after inflation exceeded about 15 percent in just one year."
Iraq has suffered from very difficult economic conditions, as a result of the continued decline of global oil prices, while Iraq resorted to external borrowing to cover the deficit.
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