Central Bank: Inflation fell by 21% and gold reserves rose by 19% in the first quarter of 2025.
A report by the Central Bank of Iraq revealed that inflation in Iraq fell by 21% in the first quarter of this year, and that remittances abroad declined by 0.6%, while the value of gold reserves increased from 17.8 trillion dinars to 21.2 trillion dinars.
The Central Bank's report stated that these statistics covered the first quarter of this year, specifically the months of January, February, and March.
The report indicated that the overall inflation rate in Iraq fell by 21% in the first quarter of 2025, reaching 2.2%, compared to the last quarter of 2024, when the inflation rate was 2.8%. The
Central Bank's report stated that this decline indicates a decline in the general price level and an improvement in the purchasing power of individuals and institutions in Iraq.
The report stated that the volume of Iraqi currency transfers abroad by the Central Bank decreased by 0.6% in the first quarter of this year, reaching 99.9 trillion dinars.
This comparison is with the fourth quarter of 2024, when the volume of foreign currency transferred abroad at that time was 100.5 trillion dinars.
Money transfers abroad in Iraq are linked to the conversion of Iraqi oil revenues into dollars, which the bank provides to importers at the official exchange rate.
The Central Bank of Iraq indicated in its report that this decline played a role in reducing inflation and maintaining the stability of the general price level in Iraq.
The report stated that the total money supply granted by banks to the private sector in the first quarter of this year grew by 1.1%. link