Baghdad - Saba:
The Central Bank of Iraq announced, today, Wednesday, a decrease in annual inflation in Iraq to 2.8 percent.
The bank said, in a statement, that annual inflation decreased in Iraq from 4 percent for the fourth quarter of 2023 to 2.8 percent for the same period in 2024.
It indicated that general and basic inflation are at acceptable rates, which reflects price stability and the success of monetary policy in Iraq.
The decrease in inflation means a decrease in the annual increase in prices of goods and services, which enhances the purchasing power of Iraqi citizens and reflects economic stability.
Iraq has witnessed fluctuations in inflation rates over the past years. In 2022, the annual inflation rate reached 5 percent, then rose to 6.6 percent in 2023, due to several factors, most notably changes in the exchange rate and the effects of the Russian-Ukrainian war.
| more of (Economy) |