The Iraqi Central Bank announces a decrease in the inflation rate in August 2023

The Iraqi Central Bank announces a decrease in the inflation rate in August 2023

11/29/2023

The Iraqi Central Bank announces a decrease in the inflation rate in August 2023The Central Bank of Iraq announced today, Wednesday, that the inflation rate in the country witnessed a noticeable decline during the month of August 2023, reaching about 3.7%, in light of the worsening problem of inflation in many Arab and neighboring countries.

Economic data show that inflation in Iraq remains low compared to some other countries in the region, as inflation in some of these countries has reached levels of two or three decimal places.

Despite the high inflation rates in Iraq’s main trading partners, Iran and Turkey, Iraq continued to maintain its price stability.

This announcement comes in light of the modernized economic conditions and major transformations in the region, as trade data shows that 46% of Iraq’s foreign trade is with Iran, and 57% is with Turkey.

This number reflects the clear success of the Central Bank of Iraq’s policy tools in achieving price stability and controlling inflation rates within acceptable limits.

nrttv.com