Central Bank announces increase the foundation’s annual inflation for the month of July to 140.7%

Central Bank announces increase the foundation’s annual inflation for the month of July to 140.7%

Thursday, August 23, 2012

BAGHDAD – babysit – Central Bank of Iraq, for the rise in inflation annual basis for the month of July to 140.7%, attributed the reason to the high prices of housing, electricity and food, while considered reasonable height and in control of it.
The deputy governor of the Central Bank of Iraq the appearance of Mohammed Saleh in a press statement that “the annual inflation basis rose in the month of July to 140.7% compared with annual inflation basis for the month of June, who scored 139.6%, up by 0.8%,” noting that “this inflation has been rising rose 5.9 percent for the month of July of last year 2011. ”

Saleh added that “the central bank excluded from the inflation indicators petroleum products from the oil and gas within the Department of fuel and two sets of fruits and vegetables within the food section as prices volatile and unstable,” adding that “the annual inflation basically known universally represents pressure spending continuing.”

He attributed the benefit of reasons for the high inflation to “price pressures at home from services such as housing, electricity and cost of food after prices of industrial goods to the dollar in the base year 2005 by 35%,” stressing that “encourage housing and land distribution will reduce the cases of high inflation in Iraq.”

Saleh said that “this inflation is still reasonable and controlled by, as long as not up to two places decimal,” pointing out that “the bank will take certain actions such as using a reference interest rate or other measures in the event of continuing inflation and bringing them to two places decimal” … p / i
Source: alrayy