Ministry Of Planning: Inflation In The Country Has Risen To (4.5%)
Economy | 03/11/2024 Mawazine News – Baghdad The Iraqi Ministry of Planning confirmed that the cumulative inflation level in the country has risen to approximately 4.5%.
The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said in an interview followed by Mawazine News that the last monthly inflation in January 2024 was higher by 0.4% compared to what it was previously.
Abdul Zahra Al-Hindawi added that the annual inflation index rose by the same percentage compared to what it was in January 2023, meaning the cumulative inflation became approximately 4.5%.
Regarding poverty levels in the country, a spokesman for the Iraqi Ministry of Planning explained that “data from the survey results regarding the level of poverty in Iraq will be released after about two months.”
Abdul Zahra Al-Hindawi pointed out that the aforementioned survey was conducted in all governorates, including the governorates of the Kurdistan Region.
Although Iraq is considered one of the oil-rich countries, it suffers from a continuous rise in poverty rates, amid government promises to take measures to address them, but they have not achieved the desired results.
The data now approved by the Ministry of Planning, which dates back to the year 2018, indicates that the poverty rate in Iraq is 21%, and in the governorates of the Kurdistan region it is about 6.5%.
Inflation is an increase in the general level of prices of goods and services, and the Consumer Price Index (CPI) is the most common and used indicator, as it tracks the average level of prices of goods and services that a family consumes. https://www.mawazin.net/Details.aspx?jimare=243647
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