Inflation Rate is Rising in Iraq

Iraqi NewsIraqi Dinar 123 News:– The inflation rate in Iraq increased in the month of May 2104 according to ministry of planning. The ministry of planning criticized the ministry of food for not taking appropriate measures to control the situation as it was prevailing because rise in the inflation is due to rise in the cost of food items in Iraq. The estimated rate of inflation increased by 1.4% in the last two months in Iraq due to increased prices of goods and services.The increased prices in the goods and services along with many other things like communication, rent, education and health.

The economists believe that inflation rate is favorable for economy of Iraq. The average income of Iraq people is increasing and therefore the cost of goods and services are increasing in the country. This inflation rate will not damage the economy of Iraq. Some people were talking about its impact over value of Iraqi dinar in the international market. The central bank of Iraq said that it will not harm the value of Iraqi dinar in the international market. Central bank said that it is index annual inflation and is not against the economic development of Iraq. Iraq is at developing stage and cannot afford any financial mismanagement in the country.

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