A government official expects inflation to rise in Iraq and proposes solutions to “curb” it
A government official expects inflation to rise in Iraq and proposes solutions to “curb” it
2022-01-09 07:42
Shafaq News/ On Sunday, a government official expected that inflation in Iraq would rise by two decimal places during the current year 2022.
The official, who preferred not to be identified, said in an interview with Shafaq News Agency, “It is expected that the annual inflation in Iraq will rise to two decimal places during the current year as a result of the steadily rising prices of goods and materials in the local markets, unless the government intervenes to prevent this.”
He added, “Most of the materials sold in the markets are imported, and therefore they are affected by international prices, which are witnessing a continuous rise during the past two years, especially foodstuffs,” noting that “the rise in the value of the US dollar and the depreciation of the Iraqi dinar basically also affected the rise in inflation.”
The official pointed out that “reviving the stalled government factories and factories and supporting the local product would stop the rise in inflation in Iraq,” adding that “the Central Bank of Iraq has the ability to stop the rise in inflation because its monetary policy is able to absorb inflation.”
The Central Bureau of Statistics had announced last December 21 that the annual inflation in Iraq for the month of November had risen to 8.4% compared to the same month last year.
shafaq.com
