Iraq’s inflation saw a slight rise in July

In a recent report, the Iraqi Ministry of Planning announced that inflation in Iraq rose by 3.7 percent in July 2023 compared to the same month in 2022. This is part of a trend, with a 0.6 percent increase in June as well.

Abdul Zahra Al-Hindawi, spokesperson for the Planning Ministry, emphasized the government’s commitment to maintaining acceptable inflation rates. The International Monetary Fund predicts a four percent inflation rate for Iraq in 2024, while Iraq’s Central Organization of Statistics and Information Technology noted a slight uptick in February 2024.

Despite rising inflation in neighboring countries like Iran and Turkey, Iraq’s inflation remains relatively stable. August 2023 saw a 3.7 percent inflation rate, slightly down from the previous year. This data signals a positive economic outlook for Iraq amidst regional economic fluctuations.

For more news and updates on Iraq’s economic landscape, stay tuned to Iraqi News for the latest information.

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