Iraqi Inflation Continues to Fall

A senior official in the Iraqi Central Bank said that inflation in Iraq continuedto fall in June and reached 2.7%, compared with 3% in May.

The Central Bank of Iraq slashed its base rate by 100 basis points to six per cent in April in reaction to subdued inflation, though the interest rate is considered by some to be 'symbolic', in a country recovering from war and which is still isolated from the international monetary system.

The Iraq Central Bank excludes oil prices from the inflation definition it uses.

(Source: al-Sumaria TV)

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