Iraqi Inflation Hits 5.7%

The advisor to the Iraqi Central Bank (ICB) has said that inflation jumped from 5.5% in February to 5.7% due rising electricity prices in Iraq.

Muzher Mouhammed told AKnews that the high rate of inflation in Iraq is due to the March hike in electricity prices.

“The rising inflation simply affects the economy but does not compromise the value of the Iraqi Dinar,” he assured, “…the ICB has taken steps to curb increases in inflation”.

The main task of the ICB is to maintain price stability, to implement monetary policy, to manage foreign currency reserves, to issue currency and to regulate the banking sector.

(Source: AKnews)

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