Tag Archives | inflation

IMF Revises Down GDP Forecast

By John Lee. The International Monetary Fund (IMF) has revised down its forecast GDP growth for Iraq from 0.5 per cent to a contraction of 3.1 per cent this year, due to the oil production cuts agreed within OPEC. Forecasts for 2018 and 2019 are 2.6 percent and 1.6 percent growth respectively. Consumer price inflation […]

Possible Pressure to Devalue the Dinar

By John Lee. The Acting Governor of the Central Bank of Iraq (CBI), Ali Al-Allaq, has told TR Zawya that foreign reserves currently stand at $68 billion, while the dinar monetary supply is IQD 40 trillion. “At the daily auction of the central bank, we sell about USD 150 million,” he said, “which is more than the USD […]

Iraq Economy to Shrink by Less than Expected

The International Monetary Fund (IMF) has issued its findings following a recent visit to Iraq. End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the […]

Iraqi Economy to Shrink in 2014

By John Lee. A new report from the International Monetary Fund says that Iraq’s economy is expected to shrink by 2.7 percent this year as a result of the security crisis in the country. This follows a 4.2 percent growth in GDP in 2013 and 10.3 percent the previous year, and would be the first […]

Core Inflation Increases to 5.2%

By John Lee. Iraq’s core inflation rate rose to 5.2 percent year-on-year in September, up from 5 percent year-on-year in August. Speaking to Reuters on Tuesday, Mudher Kasim [Mudher Saleh], deputy governor of the Central Bank of Iraq (CBI), blamed the increase on higher food prices and the start of the school year. Core inflation strips […]

Inflation Running at 7% Year-on-Year

By John Lee. Inflation for July was up 7% year-0n-year, according to the Central Statistics Department of the Planning Ministry. Prices of some food and beverages, particularly fruits and vegetables, fell. Houses prices were up by 10% nationwide, with rents up 13%. In a separate report, ‘core inflation’, which strips out fuel prices, fell to […]

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Core Inflation Drops to 5.9%

By John Lee. Iraq’s core inflation rate dropped to 5.9 percent year-on-year in July, Mudher Kasim, deputy governor of the Iraqi Central Bank, has told Reuters. The figure is down from 6.1 percent in June. Core inflation strips out fuel prices. (Source: Reuters)

Iraqi Inflation Falls to 5.8%

By John Lee. Iraq’s Ministry of Planning said that inflation in Iraq for the period from June 2011 to June 2012 has been running at a reported 5.8 percent. This figure is down from the 6.2 percent reported in May, and the 6.7 percent in April. (Source: NINA)

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Iraq’s Core Inflation Slows

Trade Arabia reports that Iraq’s core inflation slowed to 6.2 per cent in May, down from 6.7 per cent in April. The fall was due to a drop in the costs of food and housing said Mudher Kasim, deputy governor of the central bank. In April, the country saw high annual inflation mainly due to […]

Iraqi Inflation Reported at 5%

The Statistics Department of Iraq’s Ministry of Planning reported on Sunday that that prices rose by 5% for the period November 2010 to November 2011, according to Aswat al-Iraq. Monthly inflation was “increased by 0.1%”. The report concentrated on the commodities and services for consumption, including foodstuffs, beverages, clothes, shoes, housing, fuels (benzene, gasoline), household […]

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Inflation hits 7.6 in August

Iraq’s core annual inflation (which excludes expenditure on fuel) increased from 7.1 percent in July to 7.6 percent in August, according to Reuters, driven mainly by higher prices of food and clothes over the Muslim holy month of Ramadan. Central Bank Deputy Governor, Mudher Kasim, told the agency that the higher price of gold in […]

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Iraq Targets 5% Inflation Next Year

Iraq’s Finance Minister told Reuters on Wednesday that the country is targeting inflation of 5 percent in 2012. “I hope that in 2012, with some of the policies of the central bank, to control it (inflation) again to around 5 percent. For 2012, the target is 5 percent,” Rafie al-Esawi [Rafi Hiyad al-Issawi, Rafia al-Issawi], pictured, […]

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